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LiveMore comment on today’s inflation drop to 2%
19 June 2024
Simon Webb, managing director of capital markets and LiveMore, commented:
“Inflation has eased to 2% in May, hitting the Bank of England's official target for the first time since July 2021. This marks a significant improvement from the inflationary pressures of the past year.”
“Core inflation, which removes food and energy prices, was also down to 4.2% from 4.4%, and plays a key part in the Monetary Policy Committee’s interest rate decisions.”
“It will be interesting to see how this impacts the Bank of England’s decision on the base rate tomorrow. The question is will it be enough to bring it down? And if it does will this be a big win for the Conservatives? Likely it will not be enough for either outcome.”
