test
17.8 C
Munich
Friday, June 14, 2024

UK ‘nearly there’ on inflation

Must read

Musical evening for charity

No musical beagles are expected on June 29 Credit: Igor Normann Shutterstock AA Dog Rescue Albox will be hosting a special musical...

Vall de Gallinera Cherry Festival

Costa Blanca North Preserving heritage: Vall de Gallinera Cherry Festival By Anna Ellis • Published: 02 Jun 2024 • 11:48 The...

Orihuela does Pride proud

Costa Blanca South Orihuela does Pride proud By Donna Williams • Published: 02 Jun 2024 • 11:56 The inaugural Pride...

Los Blancos beat Die Schwarzgelben

Real Madrid were triumphant winners Credit: Real Madrid X Both King Felipe VI and Spanish Prime Minister Pedro Sánchez took to X...

UK nearly there on inflation
RISHI SUNAK: Hailed lower inflation as a ‘major moment’
Photo credit: 10 Downing Street/Simon Walker


Inflation fell to 2.3 per cent in April, down from 3.2 per cent in March and the UK’s lowest since July 2021.


“It is a major moment for the economy with inflation back to normal,” PM Rishi Sunak declared on May 22 although the April figure was above the City’s predicted 2.1 per cent.


Gas and electricity prices, respectively 38 per cent and 21 per cent lower in April, were mainly responsible for the dip in inflation, owing to a lower price cap fixing the maximum price charged for each unit.


Falling fertiliser prices and competition between supermarkets on own-brand items, meant milk, butter, poultry and fish were cheaper in April 2024 than they were a year earlier and helped to chip away at inflation.


In contrast, mobile phone bills and rents continued to rise and April’s figure has topped the Bank of England’s 2 per cent target.


Meanwhile, some City sources were “pessimistic” about a cut, but others did not rule out a  reduction in August.


The Bank’s governor Andrew Bailey pointed out that the inflation crisis was at an end while the deputy governor Ben Broadbent, has also hinted at “possible” bank rate cut later this summer.


Sign up for personalised news

Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!


By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our
Privacy Policy for more information about our privacy practices.


Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share?
Then get in touch at editorial@euroweeklynews.com.


Leave a comment Cancel reply

Your email address will not be published. Required fields are marked *

Website

Comment for robots

Known as the PEOPLE’S PAPER, Euro Weekly News is the leading English language newspaper in Spain. And it’s FREE!

Covering the Costa del Sol, Costa Blanca, Almeria, Axarquia, Mallorca and beyond, EWN supports and inspires the individuals, neighbourhoods, and communities we serve, by delivering news with a social conscience. Whether it’s local news in Spain, UK news or international stories, we are proud to be the voice for the expat communities who now call Spain home.

With around half a million print readers a week and over 1.5 million web views per month, EWN has the biggest readership of any English language newspaper in Spain. The paper prints over 150 news stories a week with many hundreds more on the web – no one else even comes close.

Our publication has won numerous awards over the last 25 years including Best Free Newspaper of the Year (Premios AEEPP), Company of the Year (Costa del Sol Business Awards) and Collaboration with Foreigners honours (Mijas Town Hall). All of this comes at ZERO cost to our readers. All our print and online content always has been and always will be FREE OF CHARGE.


Sign up for personalised news

Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!


By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.

Close

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Musical evening for charity

No musical beagles are expected on June 29 Credit: Igor Normann Shutterstock AA Dog Rescue Albox will be hosting a special musical...

Vall de Gallinera Cherry Festival

Costa Blanca North Preserving heritage: Vall de Gallinera Cherry Festival By Anna Ellis • Published: 02 Jun 2024 • 11:48 The...

Orihuela does Pride proud

Costa Blanca South Orihuela does Pride proud By Donna Williams • Published: 02 Jun 2024 • 11:56 The inaugural Pride...

Los Blancos beat Die Schwarzgelben

Real Madrid were triumphant winners Credit: Real Madrid X Both King Felipe VI and Spanish Prime Minister Pedro Sánchez took to X...

News in Brief – Costa Blanca North

Costa Blanca North News in Brief – Costa Blanca North By Donna Williams • Published: 02 Jun 2024 • 10:10 The...