UK inflation falls as meat and crumpet prices drop

UK inflation falls as meat and crumpet prices drop

Food prices have dropped on items such as meat, crumpets and chocolate biscuits helping to drive down inflation to its lowest level in two-and-a-half years. 

Official figures show rate consumer prices fell to 3.2% in the year to March, down from 3.4% the month before. 

Inflation has been falling gradually since it peaked at 11.1% in late 2022.

However, lower inflation does not mean prices overall are coming down, they are just rising less quickly.

According to the Office for National Statistics (ONS), the price rises seen across most types of food products eased between February and March, with small increases being seen for bread and cereals.

Meat prices fell by 0.5% between February and March, compared with a rise of 1.4% a year ago, with pork products one of the big reasons behind the slowing food inflation rate.

Prices for furniture and household goods like cleaning products also fell by 0.9% in the year to March.

Soaring food and energy bills have been the main causes behind the UK’s high inflation in recent years.