Reported 3 days ago
UK inflation rates cooled unexpectedly to 2.8% in February, down from 3% in January, potentially paving the way for the Bank of England to cut interest rates in May. This development provides a morale boost for Chancellor Rachel Reeves ahead of her upcoming economic statement, where she is expected to announce significant spending cuts to stabilize public finances. While the drop in inflation is welcomed, it may be short-lived, as underlying price pressures could soon rise again.
Source: YAHOO