Inflation in the UK slowed to 3.2%, the lowest in more than two years.

Consumer prices in Britain rose at the slowest pace in two and a half years, the Office for National Statistics said on Wednesday.

Inflation was 3.2% for the year through March, down from 3.4% in February but slightly higher than the 3.1% economists had expected. This is a sign that the road to lower inflation may be a difficult one. Core inflation, excluding highly volatile food and energy prices, was 4.2%, down from 4.5% the previous month.

Economists expect inflation to continue to slow in the coming months and could fall below the Bank of England's 2% target as household energy bills fall. Overall inflation peaked at 11.1% in October 2022.

The recession is putting pressure on central banks to cut interest rates. The latest report published this week shows that unemployment in the UK has risen more than expected.

This presents a difficult balancing act for the Bank of England, PwC economist Jake Finney wrote in a note. He said slowing inflation would put pressure on banks to cut interest rates to get the economy growing again, but policymakers would want more conclusive evidence that we have achieved sustainable returns on targets before turning to rate cuts.

Last month, the Bank of England maintained its benchmark interest rate at 5.25% for the fifth consecutive time. Traders have postponed expectations of the central bank's first interest rate cut until later this year after Wednesday's slightly hotter-than-expected inflation report.

The US Federal Reserve (Fed) also kept interest rates stable at its recent meeting. Given stubborn U.S. inflation data, two senior Federal Reserve officials said this week they would likely wait longer to cut interest rates than initially expected.

Last week, the European Central Bank (ECB) sent its clearest signal yet that it may cut interest rates at its June policy meeting as inflation in the euro zone slows and the region's economy slows.

Sources 1/ https://Google.com/ 2/ https://www.nytimes.com/2024/04/17/business/uk-inflation-economy-interest-rates.html The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos