Prices eased in February, reaching the lowest headline charge for almost two- and- a- third times, official data has shown.
Prime Minister Rishi Sunak welcomed the news of a 3.4 percent Consumer Prices Index ( CPI ) rise, down from 4 percent in January. When Mr. Sunak took office as prime minister, the inflation rate stood at its optimum of 11.1 percentage.
An economics ‘ News poll found a 3.5 % annual rate to be expected. On social media platform X, Mr. Sunak wrote that the lower than anticipated charge in February is” great news for you, your home, and the nation.”
At 3.4 percent, as reported by the Office of National Statistics on Wednesday, the rate is still higher than the Bank of England ( BoE ) target of 2 percent. Its objective was anticipated to be met in a few weeks, according to Chancellor Jeremy Hunt.
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