UK inflation slows to 2.8% in February

Britain's inflation eased slightly in February, defying expectations and strengthening the case for the Bank of England to cut interest rates in May.

Data from the Office for National Statistics (ONS) on Wednesday showed that UK inflation slowed to 2.8% in February from 3% in January, below forecasts of 2.9%.

Core inflation, which excludes energy, food, and other volatile items, fell to 3.5% in February from 3.7% the previous month.

The ONS said the decline in inflation reflected lower contributions from four sectors and higher contributions from five others. The biggest downward contributions came from clothing and footwear, housing and household services, and recreation and culture.