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UK Inflation looks set to fall to its 2% target in the spring
Today has brought some good news on the inflation front for the UK, so let us get straight to it. The Consumer Prices Index (CPI) rose by 4.0% in the 12 months to January 2024, the same rate as in December 2023. In itself a 4% inflation rate is nothing to shout about of course. But there was a reason to expect a rise this month and it comes from establishment incompetence. Regular readers will know that wholesale natural gas prices have been on the decline this winter but the UK system of a quarterly cap brought a 5% rise in domestic fuel prices in January. This means that there was a 0.2 bump in the CPI inflation ... (full story)
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- Feb 14, 2024 11:25am Feb 14, 2024 11:25am
- ww3361
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- woody70
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