'Bad' UK inflation stays at 2.3% in March

Unchanged from February

CPI inflation remained unchanged during March at 2.3%, according to the Office for National Statistics (ONS), staying above the Bank of England's 2% target.

Upward contributions came from food, alcohol and tobacco, clothing and footwear and miscellaneous goods and services. Within goods and services, all categories made a positive contribution for the first time since June 2014, according to the ONS. However, these gains were largely offset by downward contributions from transport, particularly air fares and motor fuels. Aberdeen's Webb: Higher inflation will force BoE to raise rates in 2018 This was partly due to the timing of Easter, which falls in mid-April this year rather than March and will therefore likely have a larger impac...