March Inflation Figures
Published / Last Updated on 11/04/2017
March Inflation Figures
The Office for National Statistics (ONS) has today published yearly inflation figures for March 2017.
Consumer Prices Index (CPI) for March came in unchanged from February 2017 at 2.3%pa.
The blame is laid with a weak pound affecting prices for:
- Food
- Alcohol
- Tobacco
- Clothing
- Footwear
As well as other miscellaneous goods and services.
The old measure of inflation, the Retail Prices Index (RPI) stands at 3.1%pa.
What about Future Inflation?
Air Passenger Duty for both short and long haul flights as well as Insurance Premium Taxes, added to a further weakening pound making goods more expensive. In addition, more firms are increasing prices with increased import costs, minimum wage hourly rates increase and compulsory employer workplace pension contributions coming on stream for virtually all employers.