fromLondon Business News | Londonlovesbusiness.com
1 week agoInflation falls to 3%, raising prospect of spring rate cut - London Business News | Londonlovesbusiness.com
UK inflation has fallen to 3%, its lowest level since March last year, increasing expectations that the Bank of England could begin cutting interest rates as soon as next month. Figures released by the Office for National Statistics (ONS) show the Consumer Prices Index (CPI) dropped from 3.4% in December to 3% in January. The decline was driven by lower petrol prices, easing food costs and a reduction in airfares.