UK inflation slows by less than expected to 3.2% in March

By Thomson Reuters Apr 17, 2024 | 1:07 AM

LONDON (Reuters) – British consumer price inflation slowed by less than expected to 3.2% in annual terms in March, down from a 3.4% increase in February, the Office for National Statistics said on Wednesday.

The Bank of England and economists polled by Reuters had forecast an annual rate of 3.1%.

Core inflation, which excludes energy, food and tobacco prices, also slowed to 4.2% from 4.5% in February. The Reuters poll had pointed to a reading of 4.1%.

Services inflation, which the BoE also watches closely, eased slightly to 6.0% in March from 6.1% a month earlier, the ONS said.

(Reporting by Suban Abdulla; Editing by Kate Holton and William Schomberg)