The annual rate of inflation in Great Britain slowed down in May to the target value of the central bank of 2%, according to official data, the "Guardian" reported.
The consumer price index fell, as expected, by 2.3% in April, the Office for National Statistics reported, noting the slowdown in food price growth.
This comes after almost three years of inflation in the UK above target, which was last seen at 2% in July 2021, before rising sharply amid the cost of living crisis.
The news is preparing the situation for the parliamentary elections on July 4. Sunak's Conservatives are likely to lose heavily to Keir Starmer's main opposition Labor Party.
Sunak welcomed the slowdown in inflation, but Labor criticized the Conservatives' handling of the economy after 14 years in power.
"This is very good news because the last few years have been really difficult for everyone," Sunak told LBC radio.
"Inflation has returned to the target, which means that people will begin to feel the creeps and be relieved of some of the burdens related to the cost of living. This is due to the economic stability that we have restored," he pointed out.
The Bank of England will meet on June 20. Interest rates are expected to be the main topic, as is usual before elections in the UK. | BGNES
