UK inflation rises to 3.5% as food prices bite

clock

The UK Consumer Prices Index (CPI) climbed in March as higher food and clothing prices pushed inflation up to 3.5%.

Bucking the downward trend seen for the last six months, CPI inflation rose from 3.4% the previous month, the Office for National Statistics (ONS) said. It is the first rise since September, and comes despite a series of expected falls in recent months. Meanwhile, RPI inflation fell to 3.6% from 3.7% in February. CPI inflation had been creeping towards its 2% target until last month, with 3.4% recorded in February, down from 3.6% in January. The ONS said the largest upward pressures came from food, clothing and recreation & culture. Worryingly, the ONS said the downward press...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

US tariffs threaten UK growth and stymie Reeves and BoE's plans

US tariffs threaten UK growth and stymie Reeves and BoE's plans

FTSE remains defensive

Linus Uhlig
clock 10 April 2025 • 6 min read
China slaps additional 84% tariff on US goods

China slaps additional 84% tariff on US goods

Latest move in the trade war

Linus Uhlig
clock 09 April 2025 • 1 min read
Attention turns to Bank of England with calls for rate cuts amid tariff chaos

Attention turns to Bank of England with calls for rate cuts amid tariff chaos

Next meeting 8 May

Linus Uhlig
clock 09 April 2025 • 3 min read
Trustpilot