UK inflation falls

Rate of inflation 2% for the first time since 2021

Inflation has fallen to the lowest level in almost three years.

The Office for National Statistics says prices rose at two per cent in the year to the end of last month.

That’s down from 2.3 per cent at the end of April.

It’s the first time in three years that the Bank of England’s target has been met.

Back in 2022, after Russia’s invasion of Ukraine, the rate at which prices increased reached 11 per cent – the highest level in decades.

Prime Minister Rishi Sunak says that – with inflation “back under control” – it is his “moral mission” to cut taxes.

Published: 19/06/2024 by Radio NewsHub