Business · 18 February 2026
Inflation falls to 3% making rate cuts likely
The overall figure dropped from 3.4% in December, reaching the lowest level seen since last March. Cheaper petrol, air travel, and grocery staples like bread primarily caused this significant decrease. Consequently, economists suggest the Bank of England could now reduce interest rates at their meeting in March. However, trade bodies warn that rising wage and tax costs may limit future price reductions.
Reported by BBC · How we write briefs