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UK consumer price inflation holds firm at 2.8% in March

UK inflation held steady in March at 2.8 per cent, its highest level since May last year, new figures released today by the Office for National Statistics (ONS) reveal.

According to the ONS, while the largest upward contribution came from books and digital cameras, lower inflation came from fuel as well as furniture.

The Consumer Price Index was broadly flat over the second half of last year and into 2013 and, over the last six months, it has been “particularly stable”.

Tuesday's figures from the ONS also showed that Retail Prices Index (RPI) inflation, which includes housing costs, rose to 3.3% in March from 3.2% in February.

Analysts anticipate an increase in the months ahead as rising prices of food and fuel, which rose by 2.2 pence per litre between February and March, are set to increase pressure, while consumer income is likely to be affected.

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