Reported 6 days ago
UK inflation unexpectedly fell to 2.8% in February, providing a boost to Chancellor Rachel Reeves as she prepares to announce over £10 billion in spending cuts. This decrease, driven primarily by a drop in clothing prices, comes amid concerns about economic growth and rising living costs. While core inflation also decreased to 3.5%, experts warn that household bills are set to rise significantly in April. Consequently, the Bank of England may pause interest rate cuts as inflation pressures loom.
Source: YAHOO