British inflation falls to its lowest level since June 2016

Inflation in Britain fell last month to its lowest level since June 2016.

According to Reuters, the Office of National Statistics said that consumer price inflation slowed to 0.5 percent from 0.8 percent in April, which is in line with the average expectation in a poll Economists conducted by Reuters.

There was a steady fall in prices at petrol stations in May after the massive fall in oil prices in recent months, > Deputy Chief of National Statistics Jonathan Atho said. p>

The downturn was lower for core inflation, which excludes energy, food, alcohol and tobacco prices which are usually volatile, falling to 1.2 percent from 1.4 percent in April. .

The Central Bank of England’s monetary policy committee is expected to announce on Thursday additional 100 billion pounds ($ 126 billion) of bond purchases, continuing what it started in March. March is after £ 200 billion in bond purchases.

The British economy suffered an unprecedented decline, exceeding twenty percent in April, due to the suspension of unnecessary activities in front of the public in an attempt to curb the spread of Covid-19.