Predictions for when Bank of England will start lowering cost of borrowing pushed back
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The UK’s annual inflation rate fell by less than expected in March to 3.2%, complicating the timing of a first Bank of England interest rate cut.
Figures from the Office for National Statistics (ONS) show inflation continued to fall from 3.4% in February to reach the lowest level since September 2021, as food prices rose at a slower pace than a year earlier. City economists and the Bank had forecast a larger decline to 3.1%.
