UK inflation dropped to a fresh two-and-a-half year low in March on the back of a further easing in food prices, official figures have shown.
The Office for National Statistics (ONS) said that Consumer Prices Index inflation stood at 3.2 per cent in March, down from 3.4 per cent in February.
The Office for National Statistics (ONS) said that Consumer Prices Index inflation stood at 3.2 per cent in March, down from 3.4 per cent in February.
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NewsTranscript
00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:06 Here are your business headlines for this morning.
00:08 UK inflation dropped to a fresh two and a half year low in March on the back of a further easing in food prices, according to official figures.
00:19 The Office for National Statistics said that consumer prices index inflation stood at 3.2 percent in March, down from 3.4 percent in February.
00:30 It marks the lowest level since September 2021, but was slightly higher than economists expected.
00:37 Economists had predicted a reading of 3.1 percent for the month.
00:43 ONS chief economist Grant Fitzner said inflation eased slightly in March to its lowest annual rate for two and a half years.
00:52 Once again, food prices were the main reason for the fall.
00:57 So an update there this morning about inflation and UK inflation dropping to a fresh two and a half year low in March.
01:05 My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.