After inflation dropped to 2.8% inflation

The UK's interest rate inflation may have strengthened the likelihood of lowering interest rates after more inflation was cooled than last month's prediction.

With the improvement of Rachel Reeves on the day of the Chancellors Spring statement, the National Statistics Secretariat said the inflation measured by the consumer price index, which was reduced from 3%to 2.8%in February, from 3%in January.

Urban economists predicted that the energy rates are high and the food store costs will be slowly increased from 2.5%in December, and then reduced to 2.9%. According to the numbers, the price continues to rise every year despite the slow speed.

Inflation is expected to achieve more than 2% goals than banks and the headline rate is expected to increase later this year, while the prospects of ThreadneEdle Street are well balanced to use the next policy meeting in May.

However, urban traders have been added to the bet on the rate cut in response to the latest snapshots, and the financial market has lowered its 55%chance of 55%to 4.25%on May 8.

GRANT FITZNER, the chief economist of ONS, said that the inflation in February is that the price of clothing, especially women's clothing, is the biggest driver. He added: this was partially offset by a small increase in alcoholic beverages.

The figure was published a few hours before the minister's speech to Commons, and Reeves suggested a depressing forecast for the economy and public finances of the office for budget liability.

Inflation graph

The British economy has been stagnant in recent months as it has been under expensive and borrowing costs in recent months. Business and consumer confidence also dropped sharply in concerns about the impact of government tax hikes, and Donald Trump had a trade war.

Inflation is expected to increase again in households where wholesale energy costs increase and food prices rise. The bank warns that inflation can reach a fresh peak of about 3.7%later this year.

Inflation graph on clothing

Furniture has been located since April as the council three, utility and other bills have increased rapidly. Business leaders also warned that the increase in the fall budget of employer national insurance donations that will enter into effect from next week will be forced to reduce jobs and raise prices.

Suren Thiru, an economic director of the UK and Wales' Certified Public Accountant Research Institute (Suren Thiru), is already baked as the short -term prices have already been baked as the short -term prices have already become baked next month, and notable short -term prices are already baked.

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Paul Dales, the UK's chief economist at consulting Capital Economics, said that inflation could drop to 2.5%in March, but the Utility price of 6.4%per month and 26%of water rates will increase more than 3%in April.

Stubulously high inflation is expected to limit banks' ability to cut interest rates, and the cost of government borrowing for financial markets is increased in the prime minister's headache.

The latest snapshots showed key inflation that excluded food and energy, and the basis for price pressure fell from 3.5%in February and 3.7%a month ago. Inflation in the service division, which banks monitor closely, have not changed to 5%.

ThreadNeedle Street said that a gradual and cautious approach is needed to cut interest rates. After three reductions last year, City Investors predicted only 4%of one quarter of this year.

Daren Jones, the Finance Minister, said the government is focusing on providing economic stability to secure people's finances. Our NO1 mission is to begin growth to increase the standard of living for the working people. That's why we are why we protect people who work from higher taxes.

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