UK reaches 'turning point' as inflation rises to 0.7% in March

Higher fuel, transport and clothing prices nudge rate higher

The UK’s 12-month CPI inflation rate rose to 0.7% in March 2021, up from 0.4% in the previous month, driven by higher fuel, transport and clothing prices.

Figures published by the Office for National Statistics (ONS) on Wednesday (21 April) show that the CPIH 12-month rate, which includes housing costs, rose to 1%, up from 0.7% in February. On a monthly basis, CPI rose to 0.3% in March 2021, partially offset by a fall in food prices. Jim Leaviss: Navigating the inflation conundrum Jon Hudson, fund manager of Premier Miton UK Growth fund, said the inflation rate should continue to rise amid high consumer demand post-lockdown and "supply challenges such as higher raw material costs, component shortages and increasing freight charges". ...