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UK Inflation Will Soon Fall to Match Rest of World, BOE Official Says
Bank of England Chief Economist Huw Pill said UK inflation will soon fall in line with the lower rates seen in the rest of the world, reflecting a drop in energy bills. Pill said there will be a “sharp further fall” in inflation rate to below 5% in October that will help partially bridge the gap between price increases in the UK and the US and the eurozone. The BOE keep interest rates unchanged at 5.25% for a second straight meeting last week, but the UK still has the highest inflation among the Group of Seven economies. Pill expects the UK to appear like less of an international outlier when October’s ... (full story)