UK inflation falls less than expected over March to 3.2%

In a statement published today (17 April), the Office for National Statistics (ONS) said the easing in the rate between March and February was due to prices rising by 0.6% on the month, compared to a 0.8% rise in the previous year. Core inflation, which excludes energy, food, alcohol and tobacco, fell from 4.5% in February to 4.2%. Michael Brown, senior research strategist at Pepperstone, said the figures indicate that progress is being made towards reaching the Monetary Policy Committee's 2% target, and this needs to continue to keep the "door to easing open". Services inflation r...