UK inflation falls to lowest level in 12 months

Having been at 2.7% in February, CPI is now at the lowest level seen since March 2017, when the figure stood at 2.3%. Today's figures were well below the consensus expectation of an unchanged rate. The fall comes as prices for clothing and footwear have risen less than they did last year, with the effect primarily coming from a range of items in women's clothing. Price movements for alcohol and tobacco have also contributed to the fall, which the ONS said "in part reflects changes to the Budget cycle that were introduced in 2017, with tax changes for tobacco being announced in Nove...