The Office for National Statistics revealed on Wednesday that inflation in the U.K. saw a significant decline to 1.7% in September, below the Bank of England’s 2% target. This marks the first time the headline rate has dropped beneath the central bank’s target since April 2021, contrary to the 1.9% forecasted by economists surveyed by Reuters.
Over the last four months, inflation has been lingering around the 2% mark, registering at 2.2% in August before experiencing a noteworthy decrease in September to 1.7%.
