United Kingdom Inflation

United Kingdom

United Kingdom: Inflation stable in March

April 14, 2015

In March, consumer prices rose 0.2% over the previous month, which followed the 0.3% increase seen in February. March’s figure reflected that higher prices for motor fuels and food more than offset lower prices for gas and clothing.

Annual inflation recorded a flat figure in March, thus matching February’s record low reading. March’s reading was in line with market expectations. Annual average inflation inched down from 1.2% in February to 1.1% in March, thus marking the lowest reading since June 2001.

In its latest inflation report from November, the Bank of England projected that inflation would average 1.2% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 1.6% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel forecasts that inflation will average 1.8%.

Author:, Senior Economist

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United Kingdom Inflation Chart

United Kingdom Inflation March 2015

Note: Annual and monthly variation of consumer price index in %.
Source: Office for National Statistics (ONS) and FocusEconomics calculations.

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