The United Kingdom’s rate of inflation dropped to 7.9% in the year to June 2023, according to the Office for National Statistics.
It had been at 8.7% in both April and May 2023.
Some experts are expecting this to cause an increase in the Bank of England’s current interest rate to 5.25% at the Bank’s meeting in August 2023.
The current interest rate is standing at 5.0%.
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