UK inflation falls to lowest level in more than three years
Published On Oct 16, 2024, 2:00 AM
UK inflation has decreased to 1.7% for the year ending in September, marking its lowest level since April 2021. This decline is more significant than economists' expectations of a 1.9% drop, suggesting a trend towards lower price increases in the UK economy.
Stock Forecasts
VGK
Positive
The reduced inflation rates may prompt the Bank of England to consider lowering interest rates to stimulate economic growth. Lower inflation can strengthen consumer spending, positively impacting various sectors.
Related News
Eurozone Inflation Slows to 1.8%, Bolstering Bets on Faster Rate Cuts
Oct 1, 2024, 8:18 AM
Investors now expect the European Central Bank to lower interest rates at its next meeting in October.
EU facing existential risk without investment - report
Sep 9, 2024, 11:59 AM
The long-awaited report paints a bleak picture days ahead of the EU's new top team being confirmed.