"The jump in UK inflation from 3.0% to 3.3% in March is bad news but not quite as bad as some feared, as the Bank of England expected the rate to be 'close to 3½%'."
"Core inflation, excluding food and energy, ticked down from 3.2% to 3.1%, providing some reassurance to the Bank's Monetary Policy Committee."
"Two factors should prevent inflation from taking off: weak demand limits firms' pricing power, and the supply of broad money has been growing at an acceptable pace of around 4%."
UK inflation increased from 3.0% to 3.3% in March, primarily due to rising transport costs, particularly motor fuels. Core inflation slightly decreased from 3.2% to 3.1%. Although these figures are concerning, they are not as severe as anticipated. Inflation is expected to decline in April due to reduced energy bills. However, pipeline pressures remain, and the Ofgem cap may rise again in July. Weak demand and stable money supply should help prevent significant inflation increases.
Read at London Business News | Londonlovesbusiness.com
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