Headline and core measures of UK inflation (March) declined when compared to a year ago but failed to meet expectations. Fuel prices filter into monthly reading
UK headline CPI eased to 3.2 from 3.4% last month, while core CPI dropped from 4.5% to 4.2%. The core measure strips out the volatile price effects relating to fuel and food to provide a better measure of the general prices of goods in the UK.
The month-on-month print remained higher than the BoE would like, at 0.6% - matching the February pace of price increases. The monthly comparison saw declines in food prices while the recent rise in fuel prices added to the elevated measure.
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