UK inflation rate dropped to 1.7 percent in September, the lowest rate in three and a half years, according to official data. Lower airfares and petrol prices were the main drivers behind the fall, showed the data of the Office for National Statistics on Wednesday. However, households were hit by a jump in food and non-alcoholic drink inflation, it said, adding that transportation prices went down by 2.4 percent, while foodstuff hiked by 0.5 percent. The Bank of England (BoE) considers that two percent is the best price growth rate, which allows the local economy to grow with no impacts on British family incomes. Source: Kuwait News Agency
Related Articles
Iraq’s oil exports to US exceed 200,000 barrels per day during the past week
The US Energy Information Administration. (EIA) announced an increase in Iraq’s oil exports to America during the past week.
The EIA stated in a table that “the average US imports of crude oil during the past week from 9 major countries amounted to 4…
QCB Governor Participates in Gulf Monetary Council Meeting
Doha: HE Governor of Qatar Central Bank (QCB) Sheikh Bandar bin Mohammed bin Saoud Al-Thani participated Thursday in the 62nd meeting of the Board of Directors of the Gulf Monetary Council, held in Doha.
The meeting addressed several topics on the ag…
UK economy grows by 0.6 pct in Q2 ’24
LONDON, British gross domestic product (GDP) is estimated to have increased by 0.6 percent in this year’s second quarter, highest growth pace in two years.
The Office for National Statistics (ONS) attributed this growth to betterment of service secto…