UK inflation failed to fall to single digits in March, dipping to 10.1% from its surprise jump to 10.4% in February, according to data from the Office for National Statistics.
The Consumer Prices Index came in higher than expected, with economists having predicted a would fall to 9.8%, although it remains down from the 41-year high of 11.1% set in October 2022. On a monthly basis, CPI rose by 0.8% in March, compared with a rise of 1.1% in March last year. The monthly change was mainly due to lower fuel prices, housing and household services, partially offset by higher food, recreation and culture prices. Food and non-alcoholic drink prices were the key driver of inflation, rising by 19.2% in the year to March, up from 18% in February. Core CPI, wh...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.