Inflation in the U.K. has returned to the Bank of England's target rate of 2% after nearly three years. The official figures showed a decrease from 2.3% to 2% in the year to May, mainly driven by lower food prices. The governing Conservative Party views this as evidence of their successful economic plan ahead of the July 4 election. The opposition Labour Party highlighted concerns over rising mortgage rates and high taxes. Despite the decline, the Bank of England is unlikely to cut interest rates from 5.25%. Read The Rest at :
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