Annual inflation in the UK is expected to dip below 2% for the first time since April 2021, reflecting falling global energy prices and resolved supply chain issues.
Sanjay Raja, chief UK economist at Deutsche Bank, noted that the decline in inflation indicates it is dropping to a new cyclical low in September.
The anticipated decrease in inflation adds pressure on the Bank of England's monetary policy, suggesting that interest rate cuts may become necessary.
Konstantinos Venetis of TS Lombard remarked that as inflation lowers, the UK economy's struggle to maintain momentum points to a softening economic environment.
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