UK Inflation Cools More Than Expected

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Official data released Wednesday (Mar 26) showed consumer prices rose by 2.8% in annual terms - slightly less than analysts expected.

But another argued the central bank would probably take comfort, and said it leaves the path clear for another rate cut in May.

The Bank of England expects consumer price inflation to peak at 3.75% in the third quarter of this year.

It believes the rise will be driven mostly by higher energy costs and regulated tariffs for household utility bills and bus fares.