US EditionU.K. inflation slows to cooler-than-expected 2.8% in February
- UK inflation fell to 2.8% in February from 3% in January, surpassing analysts' expectations of 2.9%, according to official figures.
- Clothing prices were the main contributor to the decrease, with overall clothing and footwear prices falling by 0.6%, reported by the Office for National Statistics .
- City traders raised the likelihood of an interest rate cut by the Bank of England to 55% following the unexpected inflation drop, suggesting a reduction to 4.25%.
- Experts caution that inflation is expected to rise again later this year, with predictions of an average of 3.2% for 2025 and potential near-term price increases.
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UK inflation falls by more than anticipated, in a boost to the government ahead of a key statement
Official figures show price rises in the U.K. moderated by more than anticipated in February, in a boost for Treasury chief Rachel Reeves before she delivers a statement to lawmakers about the state of the public finances.
·United States
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Total News Sources83
Leaning Left5Leaning Right8Center19Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 16%
C 59%
R 25%
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