{"id":1916672,"date":"2023-04-19T11:27:10","date_gmt":"2023-04-19T15:27:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-inflation-highest-in-western-europe-falls-only-a-little-in-march\/"},"modified":"2023-04-19T11:27:15","modified_gmt":"2023-04-19T15:27:15","slug":"uk-inflation-highest-in-western-europe-falls-only-a-little-in-march","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-inflation-highest-in-western-europe-falls-only-a-little-in-march\/","title":{"rendered":"UK inflation, highest in western Europe, falls only a little in March"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fuk-inflation-highest-in-western-europe-falls-only-a-little-in-march%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1916672&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p>By Andy Bruce and David Milliken<\/p>\n<p>LONDON (Reuters) \u2013     Britain was the only country in western Europe with double-digit inflation in March after it fell less than expected, data showed on Wednesday, bolstering bets that the Bank of England will raise interest rates again in May.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>Consumer prices rose by an annual 10.1%, the Office for National Statistics said, down from 10.4% in February but above the 9.8% forecast by economists polled by Reuters.<\/p>\n<p>Inflation, which hit a 41-year high of 11.1% in October, continued to eat into the spending power of workers whose pay is rising by less, as the price of food and non-alcoholic drinks jumped 19.1% in March \u2013 the biggest such increase since August 1977. <\/p>\n<p>Milk, sugar and olive oil prices were around 40% higher than a year ago.<\/p>\n<p>Britain\u2019s headline March figure was the highest in western Europe and the only one at 10% or above. Austria recorded a higher inflation rate in February.<\/p>\n<p>The reading underlined expectations that Britain will suffer higher inflation for longer than its peers due to a diminished workforce following the COVID-19 pandemic, heavy reliance on natural gas for power and heating, and trade and labour market frictions caused by Brexit. <\/p>\n<\/p>\n<p>GRAPHIC: Britain now has Western Europe\u2019s highest inflation rate, https:\/\/www.reuters.com\/graphics\/BRITAIN-ECONOMY\/INFLATION\/gdvzqnoqbpw\/chart.png<\/p>\n<\/p>\n<p>Core inflation \u2013 which strips out volatile energy and food prices \u2013 failed to fall as expected and instead held at 6.2%, as investors priced in a 95% chance that the BoE will raise rates next month, up from 80% on Tuesday.<\/p>\n<p>Sterling rose against the dollar and British government bond prices fell to their lowest since early March.<\/p>\n<p>\u201cIt\u2019s now clear the UK has an inflation problem that is worse and more persistent than in Europe and the U.S.,\u201d said Ed Monk, associate director of personal investing at asset manager Fidelity International.<\/p>\n<p>\u201cPrice rises here are proving more difficult to neutralise and the Bank of England will almost certainly add at least one more quarter-point hike to borrowing costs.\u201d<\/p>\n<\/p>\n<p>GRAPHIC: UK food and drink inflation rises to highest since 1977, https:\/\/www.reuters.com\/graphics\/BRITAIN-ECONOMY\/INFLATION\/lbvggwagevq\/chart.png<\/p>\n<\/p>\n<p>Services inflation \u2013 a gauge of mostly domestic price pressures \u2013 also failed to budge lower in March.<\/p>\n<p>\u201cThese figures reaffirm exactly why we must continue with our efforts to drive down inflation so we can ease pressure on families and businesses,\u201d finance minister Jeremy Hunt said.<\/p>\n<p>FALLING SIGNIFICANTLY?<\/p>\n<p>Last week the International Monetary Fund forecast that inflation would average 6.8% in Britain this year \u2013 the highest of any major advanced economy, though not much above the rate of 6.2% forecast for Germany.<\/p>\n<p>In March the BoE said it expected inflation to \u201cfall significantly\u201d in the second quarter. In February, the BoE had forecast March inflation of 9.2%.<\/p>\n<p>While inflation is likely to drop naturally as last year\u2019s sharp increases in energy prices fall out of the annual comparison, the BoE is trying to judge how fast it will decline.<\/p>\n<p>Inflation in prices charged by manufacturers fell sharply in March to its lowest since October 2021 at 8.7%, down from 11.9% in February, largely reflecting a drop in oil prices. <\/p>\n<p>Raw material costs for manufacturers were 7.6% higher than a year earlier \u2013 down from February\u2019s 12.8% but less of a drop than economists polled by Reuters had been expecting.<\/p>\n<\/p>\n<p> (Reporting by Andy Bruce and David Milliken; editing by William James and John Stonestreet)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/uk-inflation-highest-in\/attachment\/fruit-and-vegetable-trade-at-new-covent-garden-market-in\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Mike McClure and Mariah Gondeiro<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Dr. Peter McCullough<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Katie Hopkins<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Kim Fletcher<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>LONDON (Reuters) -Britain\u2019s competition regulator said proposals from Alphabet Inc\u2019s Google to give app developers the freedom to break away from Google\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Conor Humphries ENNISKERRY, Ireland (Reuters) -The chief executive of Dutch-headquartered computer chip maker NXP Semiconductors on Wednesday applauded the passage of\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Toby Sterling AMSTERDAM (Reuters) -ASML Holding NV beat first-quarter earnings forecasts on Wednesday on continued strong demand for its chip making\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>AMSTERDAM (Reuters) \u2013 Dutch semiconductor equipment maker ASML Holding NV expects sales to mainland China to pick up for the remainder of\u2026 <\/p>\n<\/p><\/div>\n<p><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Andy Bruce and David Milliken LONDON (Reuters) \u2013 Britain was the only country in western Europe with double-digit inflation in March after it fell less than expected, data showed on Wednesday, bolstering bets that the Bank of England will raise interest rates again in May. Consumer prices rose by an annual 10.1%, the Office<\/p>\n","protected":false},"author":66,"featured_media":1916673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[8447,3836,5708,3890,13782],"class_list":["post-1916672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-europe","tag-falls","tag-inflation","tag-march","tag-western"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1916672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1916672"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1916672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1916673"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1916672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1916672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1916672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}