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.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.