U.K. annual inflation rose to 3.5 percent in March from 3.4 percent in February, the Office for National Statistics showed Tuesday. Economists were expecting the annual rate to remain at 3.4 percent.
Inflation continues to hover above the 2 percent inflation target.
Meanwhile, consumer prices logged a 0.3 percent rise on a monthly basis, much slower than the 0.6 percent growth seen in February. The increase matched economists' expectations.
Excluding energy, food and alcoholic beverages, core annual inflation rose to 2.5 percent in March from 2.4 percent in February. Economists were expecting the rate to fall to 2.3 percent.
Retail price inflation came in at 3.6 percent annually, down from 3.7 percent in February. The retail price index, excluding mortgage interest payments or RPIX also climbed 3.7 percent, slower than the 3.8 percent gain in February.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.