Inflation has returned to the 2 per cent target for the first time in almost three years in what comes at a critical time, just weeks before the nation heads to the polls.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post. Here
00:06are your headlines for this morning.
00:09Inflation has returned to the 2% target for the first time in almost three years, in what
00:15comes at a critical time for the economy, just weeks before the nation heads to the
00:20polls.
00:21The Office for National Statistics said consumer prices index inflation fell to 2% in May,
00:26down from 2.3% in April.
00:30It follows nearly three years of above-target inflation, with CPI last recorded at 2% in
00:36July 2021, before shooting higher amid the cost-of-living crisis.
00:43So an update this morning, inflation has returned to the 2% target for the first time in almost
00:48three years.
00:50My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.