Financial News: UK Inflation Slowest Since 2021

UK Inflation Slowest Since 2021

04/17/2024 - 02:40:00 (RTTNews)

(RTTNews) - UK consumer price inflation softened in March to the lowest since September 2021, the Office for National Statistics reported Wednesday.

Inflation weakened to 3.2 percent in March from 3.4 percent in February. However, this was slightly above the forecast of 3.1 percent.

The March inflation was the lowest since September 2021, when it was 3.1 percent.

At the same time, core inflation that excludes energy, food, alcohol and tobacco, eased to 4.2 percent from 4.5 percent in February. The rate was seen at 4.1 percent.

On a monthly basis, the consumer price index moved up 0.6 percent, the same as in February.

Another data from the ONS showed that input prices fell 2.5 percent in the year to March, worse than a revised fall of 2.2 percent in the year to February.

Meanwhile, factory gate inflation rose to 0.6 percent from 0.4 percent in the previous month.

On a monthly basis, input prices fell 0.1 percent but output prices rose 0.2 percent in March.

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