UK inflation rate decrease is marked by a 2.4% annual rise in recreation and culture prices, down from 3.4% in February. Falling costs in games and transportation, notably petrol prices dipping to 137.5p per litre, contributed to the slowdown. Despite this, inflation might rebound according to economists. Concurrently, Asian shares are affected by US trade war policies, particularly US chipmaker Nvidia, which anticipates a substantial revenue impact from curbs on sales to China, reflecting broader economic tensions and market volatility.
Prices for recreation and culture rose by 2.4% in the 12 months to March, down from 3.4% in February. The largest downward effect on inflation came from games, toys and hobbies, and from data processing equipment, where prices fell this year but rose a year ago.
Transport also helped bring inflation down, as the average price of petrol fell by 1.6p a litre between February and March to stand at 137.5p a litre, down from 144.8p a year ago.
While UK inflation slowed last month, it could go up again in the coming months, economists warn.
Asian shares have sold off as US chipmaker Nvidia took a hit from US curbs on chip sales to China, highlighting the damage from the escalating trade war between Washington and Beijing.
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