UK inflation to average 3.2% in 2025, OBR forecasts
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FILE PHOTO: People sit outside a restaurant on the Southbank in London, Britain, August 27, 2024. REUTERS/Hannah McKay/File Photo
LONDON (Reuters) -British inflation is set to average 3.2% in 2025, British finance minister Rachel Reeves said on Wednesday, citing forecasts from the Office for Budget Responsibility.
In October, at the time of Reeves's first budget, the OBR said it expected inflation of 2.6% this year.
The OBR also forecast an average inflation rate of 2.1% in 2026 and 2% - the government's target - from 2027 onwards.
Official data published earlier on Wednesday showed consumer price inflation eased to an annual rate of 2.8% in February.
(Reporting by David Milliken and Sachin Ravikumar, writing by Sam Tabahriti; Editing by Kate Holton and Hugh Lawson)
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