The main driving force behind the sharp increase in food prices in March was the rise in bread prices in the UK

By: Trademagazin Date: 2023. 04. 19. 08:29

British annual inflation slowed, but remained above ten percent in March.

According to the report of the British Statistics Office (ONS) on Wednesday, consumer prices calculated without housing costs were on average 10.1 percent higher last month than a year earlier.

The average of analysts’ forecasts predicted twelve-month inflation of 9.8 percent for March.
Twelve-month British inflation has exceeded ten percent every month since last September.

The Bank of England’s inflation target is 2 percent, which means that British inflation has been more than five times higher than the central bank’s target level for months.