Economy

UK inflation returns to 2% target for the first time since 2021

The Bank of England inflation target has been met for the first time since July 2021, down from 2.3 per cent in the 12 months to April, and well below its recent peak of 11.1 per cent in October 2022

The Bank of England has said a return of inflation to its target is not enough on its own for it to start cutting interest rates. Picture: Dan Kitwood