UK inflation slows more than expected to 2.8%

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The UK’s inflation has unexpectedly stand at 2.5 percent in February as it is preparing for the Steps Spring Statement to Chancellor Rachel Reeves.

The annual growth of consumer prices reported by the Office for National Statistics on Wednesday was below 2.5 percent forecast by economists in the Reuters survey and a maximum of 10 months recorded in January.

This fall was guided by decreasing the price of clothing, which was reduced by 0.6 percent in February 12 months, marked as a sign of the first contraction after October 2021.

However, according to theons, in February, the main arrangement of the underlying prices of the Bank of England’s interest rates is the service inflation. Economists predicted the decrease at 8.5 percent.

Economic Advisor to the Accounting Agency MHA Joe Nelis said the decline in the title inflation was “A welcome surprise for the government earlier. Spring statementNevertheless, the bank of England’s rate-cut strategy that took place in recent months is less likely to change alertness.

The figure arrives when the Reeves repair will create outlines of cuts of more than $ 10 billion in attempts to repair A hole in public finance Caused by the expenditure of anemia to increase anemia and higher orrow.

In response to inflation information, Treasury Principal Secretary Darren Jones said: “Our number one mission is growing to kick the quality of life of the working people, which is why we are protecting the salaries of the working people from higher taxes.”

Traders are setting the price of interest rates for about 50/50 at the next meeting of the Bowie in May, according to the layers described by the markets of the dialogues, a bit above the information.

Endless price pressure has encouraged the central bank for a “slowly” approach to reduce the cost of adoption of Orrows despite the unnecessary growth. Last week, It was rate In 4.5 percent.

Hoping to bo Inflation Due to the higher energy prices in the third quarter, the increase in the third quarter before returning to about two -and -a -half percent in 2026 and 2 percent of the official in 2027 before reaching the target in the third quarter.

However, at the beginning of the month, the central bank warned that “more lasting inflation will pay deep attention to any consequences of pressure”.

According to Rob Wood, the chief UK economist in the Panthion Macro economy, the February title was “quiet before the storm”.

He said that national life wages and employer’s national insurance contribution increased in the budget and implemented from April 1, fuel prices caps are increasing next month, the number of title inflation in April may rise to 5.5 percent and then the top 5.7 percent may rise to the top in September.

Wood said that when he expected the BOE to reduce the rate of twice in 2021, “inherent inflation diligence” was increasing the chances of one more decrease this year.

“But the Wild Card is President Trump. April 2 April Customs Day may crystal the negative risks in the global economy that wants to make the financial policy committee easier to make the policy,” he said.

On Wednesday, the information from the separate onS showed that tenant prices were raised in February, which increased from mid -2021 to slower, indicating some relief for tenants after three years of sharp shouting for tenants.

The average monthly private fare has risen to 5.7 percent annually in February, 5.7 percent in January and the record in March 2021 is less than 8.5 percent.

The statistics agency said it was the lowest annual rate since 7.5 percent registered in July 2021.

From 12 months to January, the average house price of the United Kingdom rises 4.9 percent to $ 269,000, identifies the sixth increase in the drawn, and has taken their highest property costs in two years.