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Evening Standard
Evening Standard
Business
Daniel O'Boyle and Jonathan Prynn

Blow to interest rate cut hopes as inflation remains above Bank of England target

Bank of England Inflation Office for National Statistics

Inflation in the UK has fallen close to the Bank of England’s 2% target, but still came in higher than expected in a blow to hopes of an interest cut this summer.

The rate of price rises in the UK dropped to 2.3% in April, according to the Office for National Statistics (ONS). That is the lowest rate since July 2021.

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