(News Bulletin 247) – Inflation in Great Britain slowed in March, but at a less pronounced pace than expected due to the persistent high cost of food products, official figures released on Wednesday showed.
Consumer prices rose by 10.1% on an annual basis last month, a slightly less marked increase than that of February (+10.4%), announced the National Statistics Office (ONS).
But this increase is still beyond the forecasts of analysts, who hoped for a return of inflation below the symbolic bar of 10% in March.
With a surge of 19.1% year-on-year, food remains one of the main factors behind the high level of inflation.
British inflation, however, remains below its peak of 11.1% reached last October, which corresponded to a historic high since 1981.
The very gradual slowdown in the rise in prices nevertheless seems likely to call into question the expectations of an upcoming pause in the Bank of England’s monetary tightening cycle.
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