Inflation jumps to 3.4%

clock

Inflation rose to a higher-than-expected 3.4% in March, according to the Office for National Statistics.

The Consumer Prices Index (CPI), the Government's preferred measure of inflation, increased from 3% in February. The rise is greater than analysts had expected, with most predicting annual inflation would hit 3.2%. An alternative inflation measure, the Retail Prices Index (RPI) jumped sharply, up from 3.7% to 4.4%. A rise in CPI could lead to the Bank of England increasing its base rate, while the RPI jump may lead to higher pay increases during wage negotiations. Schroders european economist Azad Zangana this morning's shock only marginally increases the likelihood of interest ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Trustpilot