UK Inflation Slows Less Than Expected
Umer Jamshaid Published April 17, 2024 | 12:50 PM
London, (APP - UrduPoint / Pakistan Point News - 17th Apr, 2024) Britain's annual inflation rate fell less than expected last month, according to official data Wednesday that could cloud the outlook for interest rate cuts and cause more pain for the government.
The Consumer Prices Index dropped to 3.2 percent in March, the lowest level since September 2021, the Office for National Statistics (ONS) said.
Markets, however, had expected a rate of 3.1 percent in March.
Inflation rose 3.4 percent in the 12 months to February, the ONS added in a statement.
"Inflation eased slightly in March to its lowest annual rate for two-and-a-half years," ONS chief economist Grant Fitzner said.
"Once again, food prices were the main reason for the fall, with prices rising by less than we saw a year ago.
"Similarly to last month, we saw a partial offset from rising fuel prices," he added in the ONS release.
Finance minister Jeremy Hunt described the latest drop as "welcome news".
Recent Stories
Wembanyama in France: NBA Spurs to play Pacers in Paris in January
Russian missile kills two in Ukraine's Odesa: governor
Dutch Embassy celebrates King Willem-Alexander's birthday
Need of concrete steps stressed for safe, nutritious milk availability
Scotland's leader Yousaf quits after a year
Services of GDA Pakistan China Friendship Hospital launched
Mining giants Vale, BHP propose $25 bn settlement over Brazil dam collapse
Georgia ruling party stages mass rally to counter protests
Bayern ready for 'extraordinary' Bellingham, says Tuchel
PTI leaders get interim bail
Tennis: ATP/WTA Madrid Open results - 2nd update
French actor Depardieu released after sexual assault questioning
More Stories From World
-
Nadal keeps his clay dream alive as he battles past Cachin
47 minutes ago -
Tesla wins key China security clearance during Musk visit
7 hours ago -
Football: South African Premiership table
7 hours ago -
Tennis: ATP/WTA Madrid Open results - 3rd update
7 hours ago -
Football: South African Premiership result
7 hours ago -
Nadal keeps his clay dream alive as he battles past Cachin
7 hours ago
-
Campaigning EU chief defends record during debate
7 hours ago -
US, Mexican presidents order 'concrete' border steps: statement
7 hours ago -
Global pandemic agreement talks in race against time
7 hours ago -
Gaza protesters defy Columbia deadline to leave campus
8 hours ago -
Russian missile kills two in Ukraine's Odesa: governor
9 hours ago -
Scotland's leader Yousaf quits after a year
9 hours ago