In a statement published today (17 April), the Office for National Statistics said the easing in the rate between March and February was due to prices rising by 0.6% on the month, compared to a 0.8% rise in the previous year.
Core inflation, which excludes energy, food, alcohol and tobacco, fell from 4.5% in February to 4.2%.
UK inflation beats expectations as it drops to 3.4%
Michael Brown, senior research strategist at Pepperstone, said the figures indicate that progress is being made towards reaching the Monetary Policy Committee’s 2% target, and this needs to continue to keep t…