UK inflation eases more than expected to 2.8%, led by lower electricity and gas bills – as it happened

Food inflation slows to 3%, led by meat and chocolate; prices of computer game downloads drop sharply; economists say benign inflation data reduces chances of June rate hikeStamp duty should be scrapped and replaced with a new property wealth tax to fix London’s housing crisis, a leading thinktank has proposed.A report on the capital’s property market suggests an annual tax to replace the levy paid when buying a property and council tax would encourage downsizing and raise funds for social housing. It would also help renters to save a house deposit. Continue reading…