The UK inflation rate exceeded expectations to promote a key statement from the government.
LONDON (AP) – Official figures show that prices in the UK are more dominant than expected in February, official figures show that Treasury chief Rachel Reeves rose on Wednesday before making a statement to lawmakers about public finances.
The National Bureau of Statistics said consumer price inflation fell to 2.8% from 3% last month. Most analysts are expected to drop to 2.9%.
The agency said the price of clothes, especially women's clothing, was the biggest driver this fall.
The latest data means that the cost of living for households in the UK is still rising – inflation still exceeds the Bank of England's 2% target – but is much slower than in recent years.
Last week, the bank kept its major UK interest rates unchanged, even as the economy barely grew, and the country faces greater uncertainty given the tariff policy set by the Trump administration in the United States
A larger decline in property inflation could provide her with some relief when Reeves prepares to issue a spring statement Wednesday afternoon.
She is expected to announce spending cuts in some government departments and respond to weaker economic growth forecasts for independent forecasters.
