UK inflation has dropped. What does this mean for your bills, groceries and mortgages?

UK inflation fell to 2.6 per cent in March, but is expected to rise again in the coming months due to increased labour costs, Trump tariffs, and rising utility prices.
While fuel prices have generally decreased, contributing to the dip in inflation^,^{food prices}^{are predicted to peak later in the summer, potentially impacted by trade wars.}
The Bank of England is expected to cut interest rates in May, which will affect variable rate loans and savings rates, potentially stimulating investment.
Mortgage rates may not immediately decrease despite the interest rate cut, as they are influenced by future interest rate forecasts (swap rates), which have already factored in the expected cut.
Despite the current drop, the Office for National Statistics predicts inflation will remain above the 2 per cent target until at least 2027.