UK Inflation Climbs to 3.3 Percent in March
Higher energy costs were identified as the primary driver behind the monthly rise in inflation. The press release noted that petrol prices reached their highest average level since August 2024, contributing significantly to the overall increase in living costs.
In the transport sector, prices grew by 4.7% over the 12 months leading to March, compared with a 2.4% rise in February. The Office for National Statistics (ONS) stated, "The latest annual rate was the highest recorded since December 2022," ONS said. This marked a notable acceleration in transport-related expenses.
Housing and household service costs also continued to climb, recording a 4.3% increase in March, slightly higher than the 4.2% observed in February. Meanwhile, food and non-alcoholic beverage prices went up by 3.7%, compared with 3.3% in the previous month, reflecting ongoing pressure on essential goods.
On a month-to-month basis, consumer prices increased by 0.7% in March, rising from a 0.3% gain in February, indicating a broader uptick in inflationary momentum across the economy.
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