BBCNEWS World July 6, 2024
— the annual rate at which prices have been going up. inflation peaked at more than 10% last year, forcing the bank to raise interest rates aggressively to try and bring it under control. but it has since fallen sharply. and on wednesday, official figures showed it was down to 3.9% in november, the lowest rate in 2 years, and far lower than expected. that's raised hopes the bank of england will be soon able to start cutting the cost of borrowing, easing pressure on businesses and households. here's our economics editor, faisal islam. arp and now sharply down. over the past year, in...
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