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Inflation Up By 0.1% In March From February, ONS Reveals

Posted: 17/04/2012 10:00 Updated: 17/04/2012 10:30   PA

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Inflation
The rate of inflation has increased slightly by 0.1%, the ONS says

The Consumer Prices Index (CPI) measure of inflation rose to 3.5% in March, from 3.4% in February, official figures showed today.

The headline rate of Retail Prices Index (RPI) inflation fell to 3.6% in March, from 3.7% in February, the Office for National Statistics (ONS) said.

The underlying rate of Retail Prices Index (RPI) inflation fell to 3.7% in March, from 3.8% in February, the ONS said.

A fall in the number of supermarket promotions saw the rate of inflation unexpectedly rise last month, official figures revealed today, piling more pressure on hard-pressed families.

The Consumer Price Index (CPI) rate of inflation rose to 3.5% in March, from 3.4% in February, the Office for National Statistics (ONS) said, halting five months of declines.

Food and non-alcoholic drinks fell 0.5% on the month but this compared with a 1.4% fall last year when supermarkets and other retailers offered a wider range of sales and special offers.

The rise in inflation will rattle Bank of England Governor Sir Mervyn King and his colleagues, who previously predicted that CPI would fall swiftly back throughout this year to the Government's 2% target.

The Bank will now be less inclined to pump more money into the economy through its quantitative easing programme if inflation continues to remain above target.

Households were squeezed by high prices and sluggish wage growth throughout 2011 and some relief from the high cost of living was expected this year.

The average cost of petrol and diesel at the pump hit a record high in March, up to £1.38 and £1.46 a litre respectively.

However, the ONS said the rise in fuel and lubricants was similar to last year so had little impact on the rise in inflation.

A spokesman for the Treasury said: "Inflation has fallen by a third since September. Most market commentators expect inflation to continue falling later this year, providing ongoing relief for family budgets."

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HUFFPOST SUPER USER
pepekitch
33 Fans
 
06:59 PM on 04/17/2012
It is about time that this goverment took into account there are alot more people,who are just as clever if not cleverer than them,we are a lot more savvy,we may not have as much money as them, but we do know what is right and what is wrong,they need to change their useless policies,there as been no growth,more job losses,increase tax for ordinary people,more monies taken of the pensioners,[granny tax] A CUT IN TAX FOR THE RICH and very little done for the rest of us.May 3rd is the day we can all make our vote count.Vote with your head, lets get this goverment out.
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gogsrule
57 Fans
06:54 PM on 04/17/2012
That'll eat into the much lauded "record pension rise" messrs cCmeron & Clegg
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althorpe
26 Fans
05:54 PM on 04/17/2012
This government has lost the plot. Inflation will keep increasing while they do nothing to keep prices down. On the other hand they like prices to increase because they get more VAT and taxes on companies profits.
They are not interested in the general public, just looking after their friends the rich.
Time they were thrown out of office. They only got into power by default, they were not elected.
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icini
78 Fans
03:48 PM on 04/17/2012
Governments and politicians like inflation. It makes their own debt look smaller. They just don't care about ordinary people and they are well insulated. Join the campaign to to rid us of the 3 main parties and greens. Vote every chance possible for new parties or independents or spoil your paper, writing "none of the above" on it. The press will love it and we would see real change, we may even get councillors and MPs who represent us, not their parties.
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garethl
32 Fans
03:20 PM on 04/17/2012
my shopping cost more each time I shop, I buy cheaper alternatives and smaller quantities of more expensive items simply because I can't afford to get it cheaper by buying a larger size. I don't know what we would do if I was unable to cook, bacause at least I can make nourishing food. It is getting tougher and we have an out of touch government who cut and cut and don't give a damn about the people they are hurting so long as their rich friends are kept sweet.
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alanfinddlay1
81 Fans
02:43 PM on 04/17/2012
Why do they try and insult us with these pack of lies figures when they know inflation is well above what its supposed to be. They know they British people are being ripped off at the moment and struggling with sky high prices.
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hjohn70435
18 Fans
02:19 PM on 04/17/2012
However, the ONS said the rise in fuel and lubricants was similar to last year so had little impact on the rise in inflation ! What planet do these people at the ONS live on? When petrol /diesel goes up in price everthing will follow even my basic maths will allow me to work that out.
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bagpuss250
23 Fans
11:22 AM on 04/17/2012
This is not a true figure. Inflation is more like 9% - 12% and could reach 30% ( remember Maggie's bungling of the economy ) Just look around the shops and see the latest price rises. Whoever dreams up these inflation figures thinks they are fooling us! - THEY ARE NOT!! Why is the price of gold going through the roof???. If you have some spare cash earning numpence in the bank - then buy gold.
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HUFFPOST SUPER USER
nicholspongo
23 Fans
02:09 PM on 04/17/2012
The way they do it is to ignore anything they don't like the look of then base it on the rest, there is an old saying '' there are lies, damn lies, and statistics''
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scouse55
130 Fans
11:10 AM on 04/17/2012
Here we go again, Thatcher took a short time to start the inflation trend upwards, to as high as 20% or so, I wonder how long it will take Cameron to match his mentor?
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