Inflation returns to Bank of England's target level

UK inflation has eased to 2%, which means the the prospect of an interest rate cut within months is increased.

It is down from its peak of more than 11% in late 2022, when it spiked following Russia's invasion of Ukraine.

However, some commentators have expressed concern that services inflation, which covers sectors such as the hospitality industry, had only fallen from 5.9% in April to 5.7% in May.

Sky's business correspondent Paul Kelso reports.

Read more: https://news.sky.com/story/general-election-2024-sunak-starmer-conservatives-labour-reform-davey-lib-dem-12593360

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