UK inflation falls to lowest level since late 2021 as food prices ease further

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UK inflation falls to lowest level since late 2021 as food prices ease further

2024-04-17 15:17 Last Updated At：15:31

LONDON (AP) — Inflation in the U.K. fell to its lowest level in two and a half years in March after a further easing in food prices, official figures showed Wednesday, a development which could further pave the way for a welcome cut in interest rates soon.

Consumer prices rose by 3.2% in the year to March, down from 3.4% in February, the Office for National Statistics said. That's the lowest level since September 2021.

The fall in the annual rate was not as big as anticipated. Economists had predicted a reading of 3.1% for the month.

Inflation is still running higher than the Bank of England’s target of 2% but the direction of the move appears clear. Inflation hit a high above 11% at the end of 2022 in the wake of Russia’s invasion of Ukraine, which led to sharp increases in energy costs.

The fall means the U.K.'s inflation rate is lower than the U.S.'s for the first time in two years. In March, inflation in the U.S. rose to 3.5%.

Inflation is set to fall further in April, possibly to below 2%, as a result of sharply lower domestic energy bills, which economists think could prompt rate-setters at the Bank of England to consider a cut in interest rates in the next few months from the current 16-year high of 5.25%. However, a number of the nine policymakers have warned that the fight against inflation isn't over yet as they expect prices to start rising again in the second half of the year.

“With a further significant drop due next month, inflation should soon return to target and the pressure to cut interest rates will grow," said Simon Pittaway, senior economist at the Resolution Foundation think tank.

The Bank of England, like the U.S. Fed and other central banks around the world, raised interest rates aggressively in late 2021 from near zero to counter price rises first stoked by supply chain issues during the coronavirus pandemic and then by Russia’s invasion of Ukraine.

Higher interest rates — which cool the economy by making it more expensive to borrow, thereby bearing down on spending — have contributed to bringing down inflation worldwide.

Britain’s governing Conservative Party hopes that lower inflation and falling interest rates may trigger a feelgood factor ahead of a general election that has to take place by January 2025. Opinion polls show the main opposition Labour Party way ahead and headed for a big victory over the Conservatives, who have been in power since 2010.

Protesters take over Columbia University's Hamilton Hall in escalation of anti-war demonstrations

2024-04-30 14:36 Last Updated At：14:40

NEW YORK (AP) — Dozens of protesters took over a building at Columbia University in New York early Tuesday, barricading the entrances and unfurling a Palestinian flag out of a window in the latest escalation of demonstrations against the Israel-Hamas war that have spread to college campuses nationwide.

Video footage showed protesters on Columbia's Manhattan campus locking arms in front of Hamilton Hall early Tuesday and carrying furniture and metal barricades to the building, one of several that was occupied during a 1968 civil rights and anti-Vietnam War protest on the campus. Posts on an Instagram page for protest organizers shortly after midnight urged people to protect the encampment and join them at Hamilton Hall.

The student radio station, WKCR-FM, broadcasted a play-by-play of the hall’s takeover – which occurred nearly 12 hours after Monday’s 2 p.m. deadline for the protesters to leave an encampment of around 120 tents or face suspension. Representatives for the university did not immediately respond to emails requesting comment early Tuesday.

Universities across the U.S. are grappling with how to clear out encampments as commencement ceremonies approach, with some continuing negotiations and others turning to force and ultimatums that have resulted in clashes with police. Dozens of people were arrested Monday during protests at universities in Texas and Virginia, while Columbia said hours before the takeover of Hamilton Hall that it had started suspending students.

Demonstrators are sparring over the Israel-Hamas war and its mounting death toll, and the number of arrests at campuses nationwide is approaching 1,000 as the final days of class wrap up. The outcry is forcing colleges to reckon with their financial ties to Israel, as well as their support for free speech. Some Jewish students say the protests have veered into antisemitism and made them afraid to set foot on campus.

At the University of Texas at Austin, an attorney said at least 40 demonstrators were arrested Monday. The confrontation was an escalation on the 53,000-student campus in the state's capital, where more than 50 protesters were arrested last week.

Later Monday, dozens of officers in riot gear at the University of Utah sought to break up an encampment outside the university president’s office that went up in the afternoon. Police dragged students off by their hands and feet, snapping the poles holding up tents and zip-tying those who refused to disperse. The university says it’s against code to camp overnight on school property and that the students were given several warnings to disperse before police were called in.

The plight of students who have been arrested has become a central part of protests, with the students and a growing number of faculty demanding amnesty for protesters. At issue is whether the suspensions and legal records will follow students through their adult lives.

The Texas protest and others — including in Canada and Europe — grew out of Columbia's early demonstrations that have continued. On Monday, student activists defied the 2 p.m. deadline to leave the encampment. Instead, hundreds of protesters remained. A handful of counter-demonstrators waved Israeli flags, and one held a sign reading, “Where are the anti-Hamas chants?”

While the university didn’t call police to roust the demonstrators, school spokesperson Ben Chang said suspensions had started but could provide few details. Protest organizers said they were not aware of any suspensions as of Monday evening.

Columbia’s handling of the demonstrations also has prompted federal complaints.

A class-action lawsuit on behalf of Jewish students alleges a breach of contract by Columbia, claiming the university failed to maintain a safe learning environment, despite policies and promises. It also challenges the move away from in-person classes and seeks quick court action requiring Columbia to provide security for the students.

Meanwhile, a legal group representing pro-Palestinian students is urging the U.S. Department of Education’s civil rights office to investigate Columbia’s compliance with the Civil Rights Act of 1964 for how they have been treated.

A university spokesperson declined to comment on the complaints.

In a rare case, Northwestern University said it reached an agreement with students and faculty who represent the majority of protesters on its campus near Chicago. It allows peaceful demonstrations through the June 1 end of spring classes and in exchange, requires removal of all tents except one for aid, and restricts the demonstration area to allow only students, faculty and staff unless the university approves otherwise.

At the University of Southern California, organizers of a large encampment sat down with university President Carol Folt for about 90 minutes on Monday. Folt declined to discuss details but said she heard the concerns of protesters and talks would continue Tuesday.

USC sparked a controversy April 15 when officials refused to allow the valedictorian, who has publicly supported Palestinians, to make a commencement speech, citing nonspecific security concerns for their rare decision. Administrators then scrapped the keynote speech by filmmaker Jon M. Chu, who is an alumnus, and declined to award any honorary degrees.

The backlash, as well as Columbia's demonstrations, inspired the encampment and protests on campus last week week where 90 people were arrested by police in riot gear. The university has canceled its main graduation event.

Administrators elsewhere tried to salvage their commencements and several have ordered the clearing of encampments in recent days. When those efforts have failed, officials threatened discipline, including suspension, and possible arrest.

But students dug in their heels at other high-profile universities, with standoffs continuing at Harvard, the University of Pennsylvania, Yale and others. Police in riot gear at Virginia Commonwealth University sought to break up an encampment there late Monday and clashed with protesters.

Vertuno reported from Austin, Texas, and Mattise reported from Nashville, Tennessee. Associated Press journalists around the country contributed to this report, including Hannah Schoenbaum, Sarah Brumfield, Stefanie Dazio, Christopher Weber, Carolyn Thompson, David Collins, Makiya Seminera and Corey Williams.