New Delhi, April 22 -- UK inflation accelerated in March, as a surge in energy costs triggered by the Iran war started to hit consumers in the pocket.
The consumer prices index rose 3.3% from a year earlier, up from 3% the previous month, the Office for National Statistics said Wednesday. The figure was in line with the expectation of economists.
The pickup was driven by an 8.7% jump in the price of motor fuel, the largest monthly gain since 2022 when Russia invaded Ukraine. Services inflation, a key indicator of underlying price pressures, unexpectedly accelerated to 4.5% from 4.3% due to volatile airfares.
The report shows how the Middle East crisis has upended the outlook for inflation, with Brent crude close to $100 a barrel as the...
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