UK inflation could get near the Bank of England’s target of 2 per cent when the figures are released on Wednesday, experts have forecast. The Consumer Prices Index (CPI) fell to 3.2 per cent for March, compared with the previous year, and economists polled by Reuters think that inflation could drop to 2.1 per cent. This would mark the lowest level since July 2021 when inflation was recorded at 2 per cent – the Bank of England’s target level. Lower gas and electricity prices compared with the prior year are expected to be the key driver behind price rises cooling last month. Experts said April’s data could be “make or break” for the Bank, which has been waiting for firm evidence that CPI has reached its target level before it can cut interest rates. UK borrowing costs are currently at a 16-year high of 5.25%, and the Bank’s Monetary Policy Committee is next due to meet in June.