Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

UK Annual Inflation Drops to 2.5% in March, Lowest Level in a Year

Published 04/18/2018, 04:32 AM
Updated 04/18/2018, 04:32 AM
© Reuters.  UK annual CPI hits one-year low of 2.5%

© Reuters. UK annual CPI hits one-year low of 2.5%

Investing.com - The annual rate of change in Britain's consumer price index fell to 2.5% last month, the Office for National Statistics said on Wednesday.

This was compared to 2.7% in the previous month.

Economists had forecast the reading to remain steady at 2.7%.

Since reaching a recent high of 2.8% towards the end of 2017, the rate has fallen back to its lowest since March 2017.

Month-over-month, consumer price inflation rose 0.1% in March.

That compared to an increase of 0.4% in the previous month.

Analysts had expected a gain of 0.3%.

Core CPI, which excludes food, energy, alcohol, and tobacco costs, rose at a seasonally adjusted rate of 2.3% last month, below forecasts for 2.5%.

Core inflation advanced 2.4% in February.

The retail price index (RPI) increased by 3.3% on an annualized basis in March, compared to previous month’s 3.6% rise.

Analysts had expected RPI to register a 3.5% gain.

Month-on-month, RPI increased by 0.1% in March, below expectations for a 0.3% advance.

RPI increased 0.8% in February.

Core RPI increased at an annualized rate of 3.4% in last month, lower than the 3.6% rise registered a month earlier.

Economists had expected the reading to repeat February’s gain.

Month-on-month, core RPI rose by 0.1% in March, compared to the 0.8% drop in the previous month.

Consensus forecast was looking for a repeat of the 0.8% gain.

The data also showed that the house price index rose 4.4% in March.

Economists had forecast a gain of 4.8%.

February’s data was revised down to a rise of 4.7% from an initial 4.9% gain.

The ONS indicated that the largest downward contribution to the change in the rate between February 2018 and March 2018 came from prices for clothing and footwear rising by less than they did a year ago, with the effect coming mainly from a range of items of women’s clothing.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.