CPI Inflation Drops to 2.6% – Guido Fawkes

CPI Inflation Drops to 2.6%

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New figures released by the Office for National Statistics this morning show CPI rose by 2.6% in the year March, down from 2.8% in the year to February. The ONS says recreation and culture and and motor fuels contributed to the decline. On a monthly basis, inflation rose by 0.3% in March compared with 0.6% in March last year. Above the BoE’s target, but in the right direction…

Shadow Chancellor Mel Stride says: “Inflation remains above target and we know from official forecasts that price rises are set to increase further this year because of the Chancellor’s choices… Be in no doubt, the Chancellor’s choices are keeping inflation higher for longer and working families are paying the price.“