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UK inflation to drop to lowest level since before WWII

UK inflation to drop to lowest level since before WWII

Data compiled by economists Carmen Reinhart and Kenneth Rogoff has suggested that inflation will fall back to levels not seen since before the Second World War across advanced economies this year. The past 12 months are set to mark the first year since 1932 that inflation has fallen below 2% in every economy in the G7, reflecting the drag brought on by a slump in commodity prices. The central bank of every economy in the G7 has a target to achieve inflation of around 2%, and Canada is the only country in which inflation is expected to exceed 1% for the year as whole.

 

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