United Kingdom’s inflation rate dropped to 2% in May from 2.3% in April.
Office for National Statistics published this on its website on Wednesday.
It was also reported that consumer prices grew by 0.3% on a monthly basis which is lower than the 0.4% increased estimate made.
“Consumer prices were 2.0% higher than the same month of 2023, cooler than the 2.3% recorded in April, and marking the fourth fall in as many months”, the Office for National Statistics said Wednesday.
This has been the lowest inflation rate since Russia-Ukraine war started, pushing energy prices higher with negative impacts on consumer inflation.
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