Prices at the pump cut inflation to 2.6%

The inflation rate for March has fallen to 2.6%, down from 2.8% which should influence the Bank of England at the next interest rate meeting experts say

This figure was better than expected, with economists expecting a likelier figure of 3%. But this figure is still higher than March 2024.

Last March inflation sat at 3.2%, reducing to 2.3% in April, then did not rise above this until after Rachel Reeves’s first Budget in October. Since then, inflation rose to 3% in January but has been slowly falling since.

However, we are now in the midst of awful April which could see the inflation rate rise once again in the next figures from the Office for National Statistics (ONS).

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