UK consumer prices increased more than expected in March to remain stubbornly high on rising food prices and strengthened the call for a quarter point interest rate hike at the next Bank of England policy meeting in May.
Consumer prices logged an annual increase of 10.1 percent, which was slower than the 10.4 percent in February, the Office for National Statistics reported Wednesday.
However, headline inflation was expected to slow to 9.8 percent. Month-on-month, the consumer price index gained 0.8 percent. Although the rate was slower than the 1.1 percent increase in February, this was well above economists' forecast of 0.5 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.