UK inflation dips to 10.1% in March

Consensus expectations of 9.8%

UK inflation failed to fall to single digits in March, dipping to 10.1% from its surprise jump to 10.4% in February, according to data from the Office for National Statistics.

The consumer prices index came in higher than expected, with economists having predicted a would fall to 9.8%, although it remains down from the 41-year high of 11.1% set in October 2022.  On a monthly basis, CPI rose by 0.8% in March, compared with a rise of 1.1% in March last year. The monthly change was mainly due to lower fuel prices, housing and household services, partially offset by higher food, recreation and culture prices. Food and non-alcoholic drink prices were the key driver of inflation, rising by 19.2% in the year to March, up from 18% in February.  UK unemployment r...