UK INflation Rate Hits 3.4%

The Office for National Statistics announced this morning that the UK inflation rate for March jumped to 3.4 percent from 3 percent the month before. The rise in inflation as measured by the Consumer Price Index (CPI) was greater than expected.

The Retail Price Index also increased, coming in at 4.4 percent compared to 3.7 percent in February. According to the ONS, higher fuel prices were the greatest contributor to the increase in retail prices.

Source: BBC News

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