UK Inflation Softens In March

(RTTNews) - UK consumer price inflation weakened in March largely due to the fall in petrol prices, the Office for National Statistics said on Wednesday.

Consumer prices registered an annual growth of 2.6 percent, slower than the 2.8 percent increase in February. Prices were forecast to climb 2.7 percent.

Core inflation that excludes prices of energy, food, alcohol and tobacco, weakened to 3.4 percent, in line with expectations, from 3.5 percent in the previous month.

The annual growth in goods prices eased to 0.6 percent from 0.8 percent. Likewise, services inflation posted 4.7 percent, down from 5.0 percent in February.

The largest downward contributions to annual inflation came from recreation and culture, and motor fuels.

On a monthly basis, the consumer price index rose 0.3 percent in March compared with a rise of 0.4 percent in April. Inflation was seen unchanged at 0.4 percent.