UK CPI inflation remains close to year high

UK consumer prices index (CPI) inflation remained unchanged at 2.8% in the year to March, after a slight rise during February.

In February, rising energy prices pushed the reading to its highest level since May of last year, from 2.7% to 2.8%. The largest upward contribution in March came from the recreation & culture sector where audio-visual equipment and books, newspapers & stationery all saw price prices. The largest downward contributions came from furniture & furnishings, motor fuels and meat. CPI remained broadly flat through the second half of 2012 and into 2013 following a number of years of large increases and decreases, the ONS said.  Over the last six months, CPI  has been relatively stable,...