Price rises in the U.K. eased by more than anticipated in February, official figures showed Wednesday, raising expectations that the Bank of England may start cutting interest rates in the next few months. The Office for National Statistics said inflation, as measured by the consumer price index, fell to 3.4%, its lowest level since September 2021, from 4% in January. Inflation is still running higher than the Bank of England’s target of 2% but the direction of the move is clear.
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