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UK inflation remains high, keeping pressure on rates


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The fact that the headline rate remains in double digits means it’s been in this region since August last year. Economists had expected the figure to fall to 9.8pc.

 

 Jeremy Naylor | Analyst, London | Publication date: Wednesday 19 April 2023 

It had also been expected to fall back into single digits last month before an unexpected increase to 10.4pc amid soaring food prices. Food and non-alcoholic drink prices were the key driver of inflation, rising by 19.2pc in the year to March.

Vegetable shortages had helped push food and non-alcohol prices up to 18.2pc in February, reflecting the sharpest increase in more than 45 years.

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