Inflation in Britain fell to reach 3.4%

Data issued, Wednesday, showed that inflation in Britain fell more than expected in February, reaching 3.4%, recording the lowest level since September 2021.

Britain’s unemployment rate rose slightly to 3.9% during the three months ending in late January, while salaries also fell slightly, according to data from the National Office for Statistics.

Liz McKeown, director of economic statistics at the National Bureau, noted that salaries “are rising at a slower pace… but given the decline in inflation, salaries continue to rise in real terms”.

Job openings continue to decline, “even if total employment remains higher…than the pre-pandemic level,” while unemployment numbers have generally remained stable over the past year, according to McKeown.