Business

America’s annual inflation rate slowed to 3.1% in January. Although that was down from the 3.4% recorded in December, the dip was smaller than had been expected. Stockmarkets shuddered, as investors reduced their bets for an early interest-rate cut by the Federal Reserve. The Dow Jones Industrial Average had its worst day in almost a year. The next day traders in Britain seemed to be more optimistic about a cut to interest rates there when inflation came in at 4% for January, below forecasts.