British Inflation Dips Slightly in February: A Closer Look

Official figures revealed a slowing of British inflation to an annual rate of 2.8% in February, down from 3.0% in January. This aligns with the Bank of England's forecast and contrasts with higher predictions by economists. The central bank anticipates inflation to rise in the third quarter due to energy costs.

British inflation slowed to an annual rate of 2.8% in February, decreasing from 3.0% in January, as revealed by official figures on Wednesday.

Economists had expected a higher reading of 2.9%, whereas the Bank of England previously forecasted a 2.8% rate.

The central bank is preparing for consumer price inflation to reach 3.75% during the third quarter, driven largely by increased energy costs and elevated tariffs for household utility bills and bus fares.

(With inputs from agencies.)