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UK inflation falls by more than expected in February, triggering talk of lower interest rates

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Price rises in the U.K. eased by more than anticipated in February, raising expectations that the Bank of England may start cutting interest rates in the next few months. The Office for National Statistics said Wednesday that inflation, as measured by the consumer price index, fell to 3.4%, its lowest level since September 2021, from 4% in January.

FILE - Shoppers buy food in a supermarket in London, on Aug. 17, 2022. Price rises in the U.K. eased by more than anticipated in the year to February, official figures showed Wednesday, March 20, 2024, raising expectations that the Bank of England may start cutting interest rates in the next few months. LONDON — Price rises in the U.K.

The bigger-than-anticipated decline comes a day before the nine rate-setters at the bank announce their latest interest rate decision. The view in financial markets is that they will keep the main interest rate at a 16-year high of 5.25%.

 

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