The U.K. found a reason to celebrate on Wednesday morning, as headline inflation reached the Bank of England's 2% target for the first time in almost three years.
Although the 2% inflation figure marks an important achievement—especially with British politicians gearing up for a general election in just over two weeks—it had been anticipated for some time and was largely due to the steep year-on-year drop in energy prices. As the impact of energy prices wanes, fluctuations in the inflation rate are expected in the coming months.
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