Economic Buzz: UK Inflation Accelerates To Record High In March

13 Apr 2022 , 02:44 PM

UK consumer price inflation advanced to 7.0 percent in March from 6.2 percent in February, the Office for National Statistics said Wednesday. This was the highest annual inflation in the National Statistics series, which began in January 1997. It was also the highest rate in the historic modeled series since March 1992, when it stood at 7.1 percent. Core inflation that excludes energy, food, alcoholic beverages and tobacco, rose to 5.7 percent in March from 5.2 percent in February. On a monthly basis, consumer prices gained 1.1 percent in March, following a 0.8 percent rise in February. Prices were expected to climb 0.7 percent.

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