Rate of inflation fell to record low in March

The underlying rate of inflation fell to a record low in March, raising hopes that interest rates could be put on hold or reduced. Before mortgage interest payments, the rate was 2%, down from 2.2% in February. The underlying rate is used by the Bank of England’s monetary policy committee in setting interest rates and […]

The underlying rate of inflation fell to a record low in March, raising hopes that interest rates could be put on hold or reduced. Before mortgage interest payments, the rate was 2%, down from 2.2% in February. The underlying rate is used by the Bank of England’s monetary policy committee in setting interest rates and could make a rate cut more likely. But economists warned that last month’s Budget could increase inflation in the coming months.