The Office for National Statistics (ONS) said that Consumer Prices Index inflation stood at 3.2% in March, down from 3.4% in February.

It marks the lowest level since September 2021 but was nonetheless slightly higher than economists expected.

Economists had predicted a reading of 3.1% for the month.

ONS chief economist Grant Fitzner said: “Inflation eased slightly in March to its lowest annual rate for two and a half years.

“Once again, food prices were the main reason for the fall, with prices rising by less than we saw a year ago.

“Similarly to last month, we saw a partial offset from rising fuel prices.”





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