UK inflation falls to 3.2%, the lowest level since September 2021

Bank of England will examine CPI figure closely when considering possible interest rate cut

The UK’s annual inflation rate fell in March for a second consecutive month, dropping to 3.2% – the lowest level since September 2021 – easing pressure on households amid the cost of living crisis.

Figures from the Office for National Statistics (ONS) show inflation as measured by the consumer prices index continued to fall from 3.4% in February. City economists had forecast a reading of 3.1%.