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UK Inflation Eases To 3-Month Low

UK inflation slowed to a three-month low in March, data from the Office for National Statistics showed Wednesday.

Consumer price inflation eased to 1.5 percent in March from 1.7 percent in February. This was the lowest rate since last December, when prices were up 1.3 percent. The rate came in line with expectations.

On a monthly basis, consumer prices remained flat after climbing 0.4 percent in February.

Excluding food and energy, core inflation slowed marginally to 1.6 percent from 1.7 percent a month ago.

Another report from the ONS showed that output price inflation slowed to 0.3 percent in March from 0.5 percent in February. Economists had forecast a marginal 0.1 percent rise.

On a monthly basis, output prices decreased 0.2 percent for the second straight month compared to a forecast of 0.3 percent fall.

At the same time, input prices declined 2.9 percent annually, much faster than the 0.2 percent drop seen in February. This was the lowest the rate since October 2019. Nonetheless, this was slower than the expected 3.2 percent fall.

Month-on-month, input prices were down 3.6 percent versus forecast of -3.5 percent and February’s 0.9 percent decrease.

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