UK Inflation drop to 5 month low at 10.10% - Still crazy high!
The UK inflation rate has dropped to a 5-month low of 10.1%.
This tells us that the peak inflation may be behind us.
The decrease in transport costs, as well as restaurants and hotels, were the main drivers of the lower inflation rate.
However, if we compare it to other developed nations like the US, France, and Germany - the UK's inflation rate is still quite a bit higher.
Now we need to see the Bank of England (BoE) to keep taking action to drop the inflation and interest rates.
I mean an inflation rate of 10% or higher is still crazy!
This tells us that the peak inflation may be behind us.
The decrease in transport costs, as well as restaurants and hotels, were the main drivers of the lower inflation rate.
However, if we compare it to other developed nations like the US, France, and Germany - the UK's inflation rate is still quite a bit higher.
Now we need to see the Bank of England (BoE) to keep taking action to drop the inflation and interest rates.
I mean an inflation rate of 10% or higher is still crazy!
✅ Facebook:
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𝕏 (Formerly Twitter):
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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