The UK inflation rate as measured by the Consumer Prices Index (CPI) fell to 1.6% in March from 1.7% in February, according to the Office for National Statistics (ONS).
It is the third consecutive month inflation has been below the Bank of England’s 2% target rate, and the lowest rate since October 2009.
The largest contribution to the fall in the rate came from petrol prices.
The rate of Retail Prices Index (RPI) inflation also fell to 2.5% from 2.7%.
via SOURCE
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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