British inflation cooled in February by slightly more than economists and the Bank of England expected, according to data today that could give the central bank more confidence that it can cut interest rate cuts in the coming months.
The figures were published a day before the Bank of England announces its latest decision on interest rates. "This sets the scene for better economic conditions which could allow further progress on our ambition to boost growth and make work pay," finance minister Jeremy Hunt said in response to the figures.
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