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- UK consumer price index rose less than expected in March
UK consumer price index rose less than expected in March
According to the report from Office for National Statistics, the Consumer Prices Index (CPI) rose by 0.7% in the 12 months to March 2021, up from 0.4% to February 2021. Economists had expected a 0.8% increase. On a monthly basis, CPI rose by 0.3% in March 2021, compared with little change in March 2020.
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 1.0% in the 12 months to March 2021, up from 0.7% to February.
The largest upward contribution to the CPIH 12-month inflation rate came from transport (0.44 percentage points).
Rising prices for motor fuels and clothing resulted in the largest upward contributions to the change in the CPIH 12-month inflation rate between February and March 2021. These were partially offset by falls in the price of food.
On a monthly basis, the CPIH rose by 0.2% in March 2021, compared with little change in March 2020.
As a result of the ongoing restrictions caused by the coronavirus (COVID-19) pandemic, the number of CPIH items identified as unavailable in March 2021 was 67, accounting for 8.2% of the basket by weight; this is slightly down from 69 in February 2021; for the March 2021 price collection, we collected a weighted total of 82.2% of comparable coverage collected before the first lockdown (excluding unavailable items).
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