UK inflation falls to 3.2% in March
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UK inflation rate dropped to 3.2% in March, according to official data. This is a decrease from the previous month's rate of 3.5%. The fall in inflation was driven by lower prices for clothing and footwear, as well as a decline in fuel prices. The Office for National Statistics (ONS) reported that the Consumer Prices Index (CPI) measure of inflation fell in March, in line with economists' expectations. The drop in inflation is seen as a temporary effect due to the easing of lockdown restrictions and the impact of the pandemic. The Bank of England has stated that it expects inflation to rise further in the coming months before stabilizing at around 2%.