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Inflation in the U.K. fell to its lowest level in two and a half years in March after a further easing in food prices, official figures showed Wednesday, a development which could further pave the way for a welcome cut in interest rates soon.
Consumer prices rose by 3.2 percent in the year to March, down from 3.4 percent in February, the Office for National Statistics said. That’s the lowest level since September 2021.
The fall in the annual rate was not as big as anticipated.
