Published
Inflation has eased more than expected, falling to 7.9%.
That's led to predictions that interest rates may not go up as much as feared.
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The markets now expect them to peak no higher than 6% by end of the year - still an eye watering increase on a year or so ago.
The fall in inflation was driven by a sharp drop in the price of fuel. Food prices are still rising, but at a slower pace.
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That's led to predictions that interest rates may not go up as much as feared.
(Subscribe: https://bit.ly/C4_News_Subscribe)
The markets now expect them to peak no higher than 6% by end of the year - still an eye watering increase on a year or so ago.
The fall in inflation was driven by a sharp drop in the price of fuel. Food prices are still rising, but at a slower pace.
-----------------------
Follow us:
Facebook - https://www.facebook.com/Channel4News/
Twitter - https://twitter.com/Channel4News
TikTok - https://www.tiktok.com/@c4news
Instagram - https://www.instagram.com/channel4news/
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