UK inflation is in double digits

According to figures announced by the British National Statistics Office (ONS), consumer prices in the country increased by 0.8 percent over the previous month and became 10.1 percent annually. This rate was announced as 10.4 percent in February.

Economists polled by Reuters had forecast annual consumer inflation to fall to 9.8 percent in March, far from its 41-year high of 11.1 percent in October.

The UK now has the highest consumer inflation in Western Europe, with inflation falling below expectations.

In the UK, which is the only country in Western Europe to record double-digit inflation, food and non-alcoholic beverage prices rose 19.1% year-on-year in March.

Britain’s Office for National Statistics said the increase was the biggest since August 1977.