[The Weeping Angel]

Inflation is down.

https://www.bbc.co.uk/news/articles/c5yg04jg1n5o

UK inflation fell to 3% in January, down from 3.4% in December, driven by food, fuel and airfares.

Economists said the decrease raised the likelihood the Bank of England will cut interest rates at its March monetary policy meeting.

The Office for National Statistics (ONS) said the "marked" fall in January took inflation to its lowest rate since March 2025.

Although the rate of inflation has fallen, prices themselves are not coming down, but simply rising at a slower pace.

ONS chief economist Grant Fitzner said: "Inflation fell markedly in January to its lowest annual rate since March last year, driven partly by a decrease in petrol prices.

"Airfares were another downward driver this month with prices dropping back following the increase in December."

But he added that lower costs for bread, cereals and meat were partially offset by the cost of hotel stays and takeaways.

Wednesday's fall in inflation, coming after figures showed a slowdown in wage growth, makes it more likely the Bank of England will cut its key interest rate - currently set at 3.75%.

Economists are expecting inflation to fall further in the coming months, with the government cutting household energy bills from April. Forecasters Cornwall Insight predicted the measure would help lower the energy price cap for a typical household by £117 to £1,641 from April.

KPMG chief economist Yael Selfin said: "Given the favourable inflation outlook, the Bank is expected to cut interest rates three times this year, leaving interest rates at 3% by the end of 2026."

[The Weeping Angel]

https://www.bbc.co.uk/news/articles/c80jyx2xljno

The prime minister has committed the UK government to a £14bn plan to "transform" Wales' railways.

Sir Keir Starmer has backed Transport for Wales (TFW) proposals for 43 schemes, saying it would put the country "on the front foot".

While cash is confirmed for seven train stations at Magor and Undy, Llanwern, Cardiff East, Newport West, Somerton, Cardiff Parkway and Deeside, specific funding is yet to be announced for other projects.

A Welsh government source told the BBC it was "the biggest day in devolution", but opponents accused the Labour UK government of "reheating" old announcements.

Timescales have not been confirmed, but First Minister Eluned Morgan said the 43 projects promised would take about 15 years to roll out.

The UK government had already announced £445m for rail projects in Wales at last June's spending review, and has now explained that money will go towards building each of the seven stations, alongside upgrades in south and north Wales.

It has also backed a much longer list of schemes, which will need extra money to be allocated over the coming years.