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MNI BRIEF: UK Inflation Slows, But Services Sector Sticky

(MNI) LONDON
(MNI) London

Latest UK data shows a further deceleration in prices in March, but year-onyear readings a touch above expectations.

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UK CPI slowed in March with both headline and core year-on-year readings lower than the previous month, the Office for National Statistics said Wednesday, although both readings were a touch higher than expected by City analysts.

CPI rose by 3.2% y/y, the lowest level since 3.1% in Sept 2021, down from 3.4% in February, while core CPI rose by 4.2% y/y, down from 4.5% in February. The CPI goods annual rate slowed from 1.1% to 0.8%, while the CPI services annual rate eased slightly from 6.1% to 6.0%. (see MNI INTERVIEW: Boost To UK Consumer As Inflation Slows-ONS)

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UK CPI slowed in March with both headline and core year-on-year readings lower than the previous month, the Office for National Statistics said Wednesday, although both readings were a touch higher than expected by City analysts.

CPI rose by 3.2% y/y, the lowest level since 3.1% in Sept 2021, down from 3.4% in February, while core CPI rose by 4.2% y/y, down from 4.5% in February. The CPI goods annual rate slowed from 1.1% to 0.8%, while the CPI services annual rate eased slightly from 6.1% to 6.0%. (see MNI INTERVIEW: Boost To UK Consumer As Inflation Slows-ONS)

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