UK Inflation Remains at 2.3%

Inflation in the UK has remained at 2.3% for the second month in a row, above the Government target of 2%

Emma Wall 11 April, 2017 | 12:13PM

Inflation held steady at 2.3% in March for the second month in a row, in line with expectations. This is the highest level since September 2013, data from the Office for National Statistics showed.

The consumer price index including owner occupiers' housing costs also climbed 2.3% in March. On a monthly basis, consumer prices rose 0.4%, slightly faster than the expected 0.3%. Excluding prices of energy, food, alcoholic beverages and tobacco, core inflation eased to 1.8% from 2% - showing that the price of oil rising over the past 12 months is putting a strain on households. Food inflation increased significantly last month, as supermarkets passed on rising import costs to consumers.

Another report from ONS showed that factory gate inflation slowed slightly in March. Output prices grew 3.6% annually, following a 3.7% rise in February. This was the ninth consecutive annual growth in prices.

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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