Bigger-than-forecast decline in annual rate in February is positive news for chancellor in run-up to Commons address
The odds of the Bank of England cutting interest rates in May have been strengthened after inflation cooled by more than forecast last month.
In a boost for Rachel Reeves on the day of the chancellor’s spring statement, the Office for National Statistics said inflation as measured by the consumer prices index eased to 2.8% in February from 3% in January.
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