The same source said that the prices of clothing, shoes and food decreased, while the prices of sectors such as hotels and restaurants increased.
The British government, through the head of the Treasury, Darren Jones, expressed satisfaction that inflation remained within the central bank’s target, although it highlighted that “for families across the UK, prices remain high”.
“We are facing the legacy of 14 years of economic chaos and (Conservative) irresponsibility. That is why this (Labour) government is now taking difficult decisions to lay the foundations for rebuilding the UK and improving the situation in all parts of the country,” he added.
Inflation is at its lowest level in nearly three years, having last hit 2% in July 2021, before later rising due to the cost of living crisis.
In October 2022, inflation rose to more than 10%, after energy prices rose due to the Russian invasion of Ukraine.
The Bank of England is expected to start cutting interest rates this year, which are currently at 5.25%, their highest level since 2008.
Youth // CSJ
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