British 12-month inflation falls to 4.0% in March
British annual inflation dropped to 4.0 percent in March from 4.4 percent in February, which had been the highest level for more than two years, official data showed on Tuesday.
"CPI annual inflation -- the government's target measure -- was 4.0 percent in March, down from 4.4 percent in February" as food and non-alcoholic drinks prices fell heavily, the Office for National Statistics (ONS) said in a statement.
Analysts had forecast the rate to be unchanged from February, according to a survey of analysts carried out by Dow Jones Newswires. At 4.0 percent, the rate was still double the Bank of England's target.
The ONS added that Consumer Prices Index (CPI) inflation rose by 0.3 percent in March from February on a month-on-month basis. Analysts had predicted a rise of 0.5 percent.
© 2011 AFP