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United Kingdom Inflation March 2020

United Kingdom: Inflation falls further below target in March

Consumer prices were flat month-on-month in March, down from February’s 0.4% increase. March’s reading was driven by higher prices for food and health offsetting lower transport prices.

Inflation dipped from 1.7% in February to 1.5% in March, moving further below the Bank of England’s 2.0% target, while core inflation, which excludes energy and food, ticked down from 1.7% to 1.6%. Looking ahead, inflation is likely to decline due to the weak economy and rock-bottom oil prices.

It should be noted that in the months ahead, coronavirus-induced lockdown measures will impact the collection of consumer price data due to the lack of availability of many goods and services.

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