00:01Inflation has fallen to 3% in the year to January, according to the Office for National
00:06Statistics. Prices are still rising but at a slower pace, with meat, motor fuel and airfares
00:12contributing to the drop, while hotel stays and takeaways have pushed costs up. Chancellor Rachel
00:18Reeves says recent government policies on energy, realfares and prescriptions are helping reduce
00:24inflation, but the opposition says families are still struggling. The Bank of England predicts
00:30inflation will ease further, and some economists suggest this could lead to an interest rate cut
00:35next month, helping households and mortgage holders, though some small businesses still
00:40report higher costs.
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