UK annualized CPI stays unchanged in March, core figures disappoint

The UK consumer prices stalled its bullish momentum in March, steadying at 2.3%, as seen in February, the Office for National Statistics (ONS) revealed on Tuesday.

While the core inflation gauge softened in March, coming in at +1.8 y/y. Markets had predicted the core figures to decrease to +1.9%.

On monthly basis, the UK inflation figures bettered expectations, coming in at 0.4% last month, as compared to 0.7% previous and expectations of +0.3%. 

ONS reports, “Rising prices for food, alcohol and tobacco, clothing and footwear, miscellaneous goods and services were the main upward contributors to change in the rate. These were largely offset by a downward contribution from transport, particularly air fares and, to a lesser extent, motor fuels.”