The United Kingdom's inflation rate fell to 3.2% year-on-year in March 2024 from 3.4% in the previous month but remained slightly above the market expectation of 3.1%. It was the lowest rate since September 2021, primarily driven by a slowdown in food inflation (4.0% vs 5.0% in February). Additionally, prices rose at a slower pace for restaurants and hotels (5.8% vs 6.0%), recreation and culture (5.3% vs 5.4%), while the cost of housing continued to decline (-1.6% vs -1.7%). Transport prices, on the other hand, rebounded by 0.1% after four consecutive months of decrease, partly due to a softer decline in the cost of motor fuels. The annual core inflation rate, which excludes volatile items such as energy and food, dropped to 4.2%, the lowest rate since December 2021 and also slightly beat the market consensus of 4.1%. On a monthly basis, consumer prices rose by 0.6% in March, the same pace as in February. source: Office for National Statistics
Inflation Rate in the United Kingdom decreased to 3.20 percent in March from 3.40 percent in February of 2024. Inflation Rate in the United Kingdom averaged 2.83 percent from 1989 until 2024, reaching an all time high of 11.10 percent in October of 2022 and a record low of -0.10 percent in April of 2015. This page provides - United Kingdom Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.
Inflation Rate in the United Kingdom decreased to 3.20 percent in March from 3.40 percent in February of 2024. Inflation Rate in the United Kingdom is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Inflation Rate is projected to trend around 1.70 percent in 2025, according to our econometric models.