UK Inflation Falls to Lowest Rate in 2.5 Years

Published on April 17, 2024

UK inflation fell to its lowest rate in two and a half years in March, driven by easing in food prices. The Consumer Prices Index (CPI) dropped to 3.2 percent last month, down from 3.4 percent in February. A slowdown in prices growth was welcomed by the government. “Inflation has fallen—again. It’s now at 3.2 percent, the lowest it has been in over two and a half years,” said Prime Minister Rishi Sunak. Chancellor Jeremy Hunt said that falling inflation coupled with other government policies makes a difference to family budgets. “The plan is working, and we’re turning a corner. Inflation is falling faster than expected, significantly down from its 11 percent peak. Really welcome news. Alongside our tax cuts, worth around £900 a year to the average worker, people should start to feel the difference in their pay packets,” said Mr. Hunt....

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