Tuesday, 05 July, 2022

Cheaper clothes and fuel sees UK inflation fall to 1.5% in March

Graphic copyright
Getty Pictures

The UK’s inflation price fell to 1.5% in March, largely pushed by falls in the selling prices of clothing and fuel.

The Purchaser Price ranges Index (CPI) fell 1.7% in February, in accordance to the Office environment for Countrywide Figures (ONS).

The ONS said that clothing charges dropped as stores provided discount rates as footfall fell just in advance of coronavirus lockdown steps were being released.

Prices of garments and footwear fell by 1.2% in the year to March 2020.

ONS head of inflation Mike Hardie mentioned: “Garments costs commonly rise involving February and March as new 12 months discounting ends.

“Having said that, this 12 months the value of garments has eased due to some vendors featuring savings because of to decreased footfall in stores just before the lockdown commenced.”

He extra: “The charge of uncooked elements for brands fell considerably around the calendar year, pushed by a global slide in the price for crude oil, which is at its lowest stage due to the fact early 2016.”

What do I need to know about the coronavirus?

Supply website link