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UK inflation lower than expected at 4% as Bank of England eyes rate cuts

News / Wed 14th Feb 2024 at 08:39am

UK inflation has remained unchanged at 4%, surprising economists who had predicted a small increase to 4.2% reports The Guardian.

The figures showed the first monthly fall in food prices for more than two years. Food and non-alcoholic drink prices fell at a monthly rate of 0.4% in January, the first monthly decline since May 2021, driven by price cuts in January for bread and cereals, cream crackers, sponge cake and chocolate biscuits. Furniture and household goods prices also fell.

That offset the rise in gas and electricity costs after the Great British energy regulator raised its price cap.

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https://www.theguardian.com/business/live/2024/feb/14/uk-inflation-energy-bills-bank-of-england-andrew-bailey-eurozone-gdp-euro-sterling-interest-rates-business-live

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4 Comments for UK inflation lower than expected at 4% as Bank of England eyes rate cuts:

adam
2024-02-14 09:38:31

No rates need to stay at the historic levels they are. We need to destroy the insane economy and bubbles created by ZIRP which has priced houses stupidly and turned most people and businesses in to debt zombies. Yes it will be painful and yes many people will suffer but it was their own choice and we will be in a better place coming out of this especially for the young.

Ray
2024-02-14 09:47:56

Thank you John Adams

vipin
2024-02-14 10:10:03

Government spin doctors are at work, inflation figures are more nearer 6% from personal spending data, hence inflation figures have been doctored to show government in better position than they really are, otherwise why still have base rate at current exorbitant level.

Guy Flegman
2024-02-14 15:19:41

Why reduce interest rates. It was access to cheap money that got us into this mess. If interest rates had never dropped below 2.5% the governments would have thought twice about printing all that money…….. er then again, probably not as the countries brain cell was sold years ago.

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