Rachel Reeves has been warned an unexpected decline in inflation was a “red herring” as she prepares to announce cuts to public spending in her Spring Statement. The consumer prices index (CPI) eased from 3pc in January to 2.8pc in February, according to the Office for National Statistics (ONS). Economists had expected inflation to remain unchanged, having jumped from 2.5pc in December. Read more: https://www.telegraph.co.uk/business/2025/03/26/spring-statement-2025-rachel-reeves-spending-cuts-

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