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Inflation in U.K. Slows to 3.2%, Lowest in More Than 2 Years

·1 min

Consumer prices in Britain rose at the slowest rate in two and a half years, according to a report on Wednesday. Inflation for March was 3.2 percent, down from 3.4 percent in February but slightly higher than the expected 3.1 percent. Core inflation, which excludes volatile food and energy prices, was 4.2 percent, a decrease from the previous month’s 4.5 percent. Economists anticipate further slowing of inflation in the coming months, possibly falling below the Bank of England’s target of 2 percent. The weak economy has increased pressure on the central bank to lower interest rates.