Inflation slows further to 2.6% after drop in petrol prices
UK inflation slowed down for the second month in a row in March on the back of falling petrol prices, according to official figures.
The Office for National Statistics (ONS) said the rate of Consumer Prices Index (CPI) inflation eased to 2.6% for the month, from 2.8% in February.
It was a steeper drop than predicted by economists, who had expected a reading of 2.7% for March.
It marks the lowest reading since December.
Rise
ONS chief economist Grant Fitzner said: “Inflation eased again in March, driven by a variety of factors including falling fuel prices and unchanged food costs compared with the price rises we saw this time last year.
“The only significant offset came from the price of clothes, which rose strongly this month, following the unusual decrease in February.”
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It’s an illusion by manipulation of data. Fuel prices will be on their way back up soon and there’s a strong undercurrent of drift upwards in food prices, the good stuff and the junk both rising steadily.
According to Sky News food inflation was 3% last month so indeed rising steadily.
https://news.sky.com/story/money-inflation-consumer-personal-finance-mortgage-interest-rate-sky-latest-13040934?postid=9446292
I’m afraid I find this very hard to believe. Eye-watering hikes to water bills & council tax alone tell a very different story.
This month’s hikes will not be included in LAST MONTH’S year-on-year inflation figures.