Welcome to Enterprise NewsLine  

Bigger than expected fall in inflation

Inflation has fallen to 1.9%, down from the previous month's 2.4% and lower than City analysts expected.

The Consumer Prices Index (CPI) fell below the Government's 2% target for the first time since March last year.

Analysts said the fall would would boost expectations that interest rates have now peaked at the current 5.75%, the BBC reported.

The fall is believed have been caused by weaker food prices as supermarkets cut their prices to compete with each other.

 
Powered by Movable Type 3.2