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1. • • UK inflation fell unexpectedly to 1.7% in the year to September, the lowest rate in three-and-a-half years. It means the annual rate prices are rising at is now below the Bank of England's 2% target, paving the way for further interest rate cuts.
     www.bbc.co.uk/news/articles/czxde3779lxo

     UK inflation: Surprise fall in paves way for interest rate cuts

2. People also ask

   Is inflation lower in the UK than a year ago?

   • Mr Hunt said: “Inflation [in the UK] is now lower than in the eurozone or in the United States of America, but prices are still a lot higher than they were a year ago.” He's right. Inflation measured by the Consumer Prices Index (CPI) was 2.3% in the UK in the year to April 2024.

   UK inflation: How does the UK compare with other economies? - BBC

   www.bbc.com/news/articles/cedd1nd5d9go

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   How high is inflation in the UK?

   • Between 1997 and 2021, CPI inflation was 2% on average – in line with our target. It began to rise in 2021 and reached a peak of 11% in 2022. It has fallen back to about 2% since then. Inflation in the UK is measured by the Office for National Statistics. What caused high inflation in the UK? Three large economic shocks.

   What will happen to inflation? - Bank of England

   www.bankofengland.co.uk/explainers/will-inflation-in-the-uk-keep-rising

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   Does lower inflation mean lower prices?

   • While prices overall are very likely to go up more slowly than they have done in recent years, lower inflation doesn’t mean prices will fall. Most things will still cost more than they did before. The Consumer Price Index (CPI) is the measure of inflation often talked about in the news.

   What will happen to inflation? - Bank of England

   www.bankofengland.co.uk/explainers/will-inflation-in-the-uk-keep-rising

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   Will inflation fall again?

   • We can’t predict exactly what will happen to inflation, but we think it is likely to edge up to about 2.5% towards the end of the year before falling again. While prices overall are very likely to go up more slowly than they have done in recent years, lower inflation doesn’t mean prices will fall.

   What will happen to inflation? - Bank of England

   www.bankofengland.co.uk/explainers/will-inflation-in-the-uk-keep-rising

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   What measure does the bank of England use for inflation?

   • The calculator uses the Consumer Price Index (CPI) as this is the measure used by the Government to set the Bank of England’s target for inflation. An alternative credible measure, which is the ONS’s lead measure of inflation, is the Consumer Price Index including Owner Occupiers’ Housing Costs (CPIH).

   Inflation calculator - Bank of England

   www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator.

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   What was inflation in the UK in April 2024?

   • Inflation measured by the Consumer Prices Index (CPI) was 2.3% in the UK in the year to April 2024. The main measure of consumer inflation in the US in April 2024 was 3.4%. And in the eurozone, inflation in April was 2.4%. But the UK’s inflation rate peaked higher than in the US and the eurozone, at 11.1% in October 2022.

   UK inflation: How does the UK compare with other economies? - BBC

   www.bbc.com/news/articles/cedd1nd5d9go

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3. www.bbc.com › news › articlesUK inflation: How does the UK compare with other economies? - BBC

   www.bbc.com › news › articles

   May 23, 2024 · Mr Hunt said: “Inflation [in the UK] is now lower than in the eurozone or in the United States of America, but prices are still a lot higher than they were a year ago.” He's...

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5. www.bankofengland.co.uk › monetary-policy › inflationInflation and the 2% target - Bank of England

   www.bankofengland.co.uk › monetary-policy › inflation

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   Jun 22, 2023 · So if inflation is 3%, it means prices are 3% higher (on average) than they were a year ago. For example, if a loaf of bread cost £1 a year ago and now it’s £1.03 then its price has risen by 3%. Use our inflation calculator to find out how prices have changed over the years.

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7. www.bbc.co.uk › news › articlesHow does the UK compare with other economies? - BBC

   www.bbc.co.uk › news › articles

   May 22, 2024 · Mr Hunt said: “Inflation [in the UK] is now lower than in the eurozone or in the United States of America, but prices are still a lot higher than they were a year ago.” He's...

8. www.bbc.co.uk › news › articlesUK inflation: Surprise fall in paves way for interest rate cuts

   www.bbc.co.uk › news › articles

   • Cached

   Oct 16, 2024 · UK inflation fell unexpectedly to 1.7% in the year to September, the lowest rate in three-and-a-half years. ... But the lower-than-expected inflation rate has also opened the door for a December ...

9. www.bankofengland.co.uk › explainers › willWhat will happen to inflation? | Bank of England

   www.bankofengland.co.uk › explainers › will

   • Cached

   Between 1997 and 2021, CPI inflation was 2% on average – in line with our target. It began to rise in 2021 and reached a peak of 11% in 2022. It has fallen back to about 2% since then. Inflation in the UK is measured by the Office for National Statistics Opens in a new window.

10. commonslibrary.parliament.uk › research-briefingsHigh cost of living: Impact on households - House of Commons ...

    commonslibrary.parliament.uk › research-briefings

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    5 days ago · The cost of living increased sharply in the UK during 2021 and 2022. The annual rate of inflation peaked at 11.1% in October 2022, a 41-year high, before subsequently easing. In May 2024, inflation fell to 2.0% (the Bank of England’s target) for the first time since July 2021.

11. www.bankofengland.co.uk › inflation-calculatorInflation calculator - Bank of England

    www.bankofengland.co.uk › inflation-calculator

    • Cached

    Use our inflation calculator to check how prices in the UK have changed over time, from 1209 to now. What would goods and services costing. Show amount. The calculator uses Consumer Price Index (CPI) inflation data from the Office for National Statistics from 1988 onward.