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Britain’s Annual Inflation Rate Drops to Three-Year Low of 2.3% in April

Britain’s annual inflation rate saw a sharp decline in April, dropping to 2.3% from March’s 3.2%, marking the lowest level in three years. But the decrease fell short of the expectations, tempering hopes for an interest rate cut by the Bank of England in June. This unexpected moderation in inflation suggests that the bank may maintain its cautious stance on monetary policy in the foreseeable future.