2 hours ago Shock fall in inflation paves road for Bank of England to slash interest rates twice in boost for millions of borrowers before Christmas

The dual boost for borrowers has been put down largely to lower air fares and petrol prices according to the Office for National Statistics (ONS).

Economics

18 hours ago UK inflation falls below 2% for first time since 2021 in boost to Rachel Reeves

Surprise annual drop to 1.7% in September raises chance of interest rate cuts, increasing budget leewayAnalysis: Sharp inflation drop gives green light to more aggressive rate cutsBusiness live – latest updatesInflation in the UK has fallen to its lowest level in three and a half years, giving a pre-budget boost to Rachel Reeves as expectations grow for the Bank of England to cut interest rates.Figures from the Office for National Statistics show the consumer prices index dropped sharply to 1.7%, down from 2.2% in August, in a bigger than expected fall than anticipated in financial markets driven by lower air fares and petrol prices. Continue reading...

Economics

18 hours ago What is inflation? Rate falls below Bank of England's target of 2% for first time in nearly three years

The decline has given weight to market predictions that the Bank of England could cut interest rates at its next policy conference

Economics

18 hours ago What this unexpected inflation drop means for your spending, savings and mortgages

Inflation dropped below the Bank of England target rate last month for the first time since April 2021, according to new figures.

Economics

19 hours ago Today's big fall in inflation is an early Christmas present for homeowners and consumers

The mortgage price war between major lenders is now expected to resume after fizzling out in recent days

Economics

19 hours ago Two interest rate cuts before Christmas 'now in play' after bigger than expected inflation fall

Fall opens the way for an interest rate cut from the Bank of England next month - and possibly also in December

Economics

20 hours ago Odds of November interest rate cut jump as UK inflation drops to 1.7% – business live

UK inflation drops below 2% target in September, weakening pound and raising chances of an interest rate cut in NovemberToday’s report shows that prices in the UK are rising a little slower than in Germany (where inflation was 1.8% on an EU-harmonised basis), but faster than in France (where harmonised CPI was just 1.5%).With inflation firmly below the Bank of England’s 2% target, policymakers could potentially cut interest rates at their final two meetings of 2024.“For the first time in more than three years inflation is back below the Bank of England’s 2% target. With inflation falling below this level and the pace of wage growth slowing, the conditions appear ripe for another rate cut at the Bank of England’s next decision in early November, and maybe even the one after in December t...

Economics

20 hours ago UK inflation falls to 1.7%: Rate drops below Bank of England target for first time in three years amid lower flight and petrol costs as hopes build of further interest rates cut next month

The rate of Consumer Prices Index inflation decreased to 1.7% in September from 2.2% in August, marking the first time it has fallen below the 2% target for over three years.

Economics

20 hours ago Inflation falls sharply to 1.7%, its lowest level in more than three years

Fall opens the way for an interest rate cut from the Bank of England next month

Economics