UK inflation decreased to 2.6% in March, below the forecasted 2.7%, intensifying calls for interest rate cuts by the Bank of England. Key factors contributing to this decline included reduced fuel prices and stable pricing in recreation, alongside increases in clothing. The drop comes ahead of expected price hikes in council taxes and utility bills, exacerbated by the uncertainties related to Donald Trump's tariff policies, which may impact future inflation trends. Economic forecasts now suggest potential fluctuations in CPI due to international trade scenarios.
Inflation in the UK dropped to 2.6% in March, increasing the pressure on Bank of England policymakers to consider cutting interest rates next month.
The ONS reported that the fall in inflation was mainly due to lower fuel prices and stable costs for leisure activities, despite rising prices in clothing and food.
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