UK Inflation Forecast to Fall Sharply in April, Could Hit 2% Target – 40 Mins Ago

UK inflation is forecasted to fall sharply in April, potentially hitting the 2% target set by the Bank of England. This significant drop from the current rate of 3.2% could have a major impact on the decision for a June interest rate cut, according to economists. The decline is expected to be driven by the energy market, with core and services inflation also playing a crucial role in determining the BOE’s next steps.

If the April print released on Wednesday shows inflation below 2%, it would be the lowest headline rate since April 2021. The potential decrease in inflation comes at a time when the UK economy is facing various challenges, making this development even more significant.

For more information on this story, you can read the full article [here](https://www.cnbc.com/2024/05/21/uk-inflation-could-be-about-to-drop-below-the-2percent-target.html). Stay tuned for updates on this developing story.

– Jenni Reid