UK inflation fell to 3.0% in January (from 3.4%), the lowest since March 2025, matching forecasts and strengthening the case for earlier Bank of England easing. The ONS said cheaper petrol, lower air fares after December’s jump, and softer food prices (notably bread/cereals and meat) did most of the work, partly offset by pricier hotels and takeaways; core inflation edged down to 3.1% and services inflation to about 4.4%. With growth barely positive (GDP up 0.1% in Q4), unemployment at a five-year high (5.2%) and wage growth cooling, investors are leaning towards a cut as soon as the 19 March meeting, after the BoE held Bank Rate at 3.75% on 5 February. Markets reacted calmly: sterling was roughly flat to slightly lower and government bond yields dipped as rate-cut bets firmed.