United Kingdom: Inflation rises for first time since September
April 17, 2012
In March, consumer prices increased 0.3% over the previous month, which was half the 0.6% price rise recorded in February and matched market expectations. The reading was mainly driven by higher prices for clothing and footwear as well as for transport, which offset lower prices for food and non-alcoholic beverages. Meanwhile, annual headline inflation rose for the first time in six months, inching up from 3.4% in February to 3.5% in March. Nevertheless, annual average inflation inched down from 4.4% in February to 4.3% in March. According to its February Inflation Report, the Bank of England expects inflation to average 2.7% this year.