UK inflation returns to 2% target

Inflation hits Bank of England's target for the first time since 2021

Cristian Angeloni
clock • 3 min read
Food prices were the largest contributors to the reduction in the headline figure, the ONS found, while the largest increase came from motor fuels.
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Food prices were the largest contributors to the reduction in the headline figure, the ONS found, while the largest increase came from motor fuels.

UK inflation has fallen back to the Bank of England’s (BoE) 2% target in May for the first time since 2021, according to data from the Office for National Statistics (ONS).

The drop was widely expected, with the BoE's spring forecast predicting a return to target in 2024. Food prices were the largest contributors to the reduction in the headline figure, the ONS fou...

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