UK inflation dips to Bank of England target

  • News Digest

Jun 20, 2019-

LONDON: British annual inflation has dipped to the Bank of England’s 2.0 target rate, official data showed Wednesday, further cementing expectations that the BoE will maintain low UK interest rates. “The Consumer Prices Index (CPI) 12-month rate was 2.0 percent in May 2019, down from 2.1 percent in April 2019,” the Office for National Statistics said in a statement. “Falling fares for transport services... and falling car prices produced the largest downward contributions to the change in the rate,” the ONS added. The data comes before the Bank of England’s Monetary Policy Committee (MPC) on Thursday announces its latest interest-rate decision. (AFP)

Published: 20-06-2019 10:15

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