Prices in the UK rose by 2.6% in the 12 months to March, less than in the previous month but still above the Bank of England's target. The Bank of England moves interest rates up and down to try to keep inflation at 2%, and has cut rates twice in 2025, taking rates to 4.25%.

Federal Reserve officials held interest rates steady for a third-straight meeting and emphasized they see a growing risk of both higher inflation and