U.K. Inflation Stays Above 10%, Raising Prospect of Further Interest-Rate Increases
LONDON—The U.K.’s annual rate of inflation was higher than expected in March and remained in double digits, a level of persistent price increases that could mean further hikes in interest rates in the coming months despite a weak economy.
March consumer prices were 10.1% higher than a year earlier, a decline in the inflation rate from 10.4% in February, the U.K.’s statistics agency said Wednesday. That rate was higher than expected, with economists having forecast a drop to 9.8%. The core rate of inflation, which excludes volatile items such as energy and food, was unchanged at 6.2%.
LONDON—The U.K.’s annual rate of inflation was higher than expected in March and remained in double digits, a level of persistent price increases that could mean further hikes in interest rates in the coming months despite a weak economy.
March consumer prices were 10.1% higher than a year earlier, a decline in the inflation rate from 10.4% in February, the U.K.’s statistics agency said Wednesday. That rate was higher than expected, with economists having forecast a drop to 9.8%. The core rate of inflation, which excludes volatile items such as energy and food, was unchanged at 6.2%.
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