Defying economists' expectations, inflation has fallen again. Listen to the latest episode of the Ian King podcast as you scroll.
Today's inflation data drop from the Office for National Statistics provides some light at the end of the tunnel after more than a year of high inflation and increasing interest rates.
"This will strengthen the case that the Bank's fourteen consecutive interest rate rises are now showing clear signs of putting downward pressure on inflation, and that its rate-rising cycle will soon end."A group representing small businesses in the UK is urging the Bank of England to pause hiking interest rates tomorrow.
However, he adds:"The risk that the Bank leaves rates unchanged and rates have already peaked has just increased." "It is particularly encouraging to see lower core inflation and services inflation, both of which have been stubbornly high in recent months," she says.
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