UNIONS urged the Bank of England to implement “quick-fire interest rate cuts” today after official figures showed that inflation has fallen to its lowest since March last year.Dropping petrol, food and airfare prices saw CPI inflation fall to 3 per cent in the 12 months to January — down from 3.4 per cent the previous month, the Office for National Statistics (ONS) said.TUC general secretary Paul Nowak  said:   “The Bank of England must now act.“From next month we need a series of quick-fire interest rate cuts. 

UNIONS urged the Bank of England to implement “quick-fire interest rate cuts” today after official figures showed that inflation has fallen to its lowest since March last year.

Dropping petrol, food and airfare prices saw CPI inflation fall to 3 per cent in the 12 months to January — down from 3.4 per cent the previous month, the Office for National Statistics (ONS) said.

TUC general secretary Paul Nowak  said:   “The Bank of England must now act.

“From next month we need a series of quick-fire interest rate cuts.

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