Inflation in Britain jumps to 3.3%, driven by the repercussions of the Iranian war
The inflation rate in Britain rose to 3.3% in March, compared to 3% the previous February, according to official data showing the first repercussions of the Iranian war on prices, which raises the Bank of England’s fears that it will lead to the return of persistently high inflation.
The prices of products delivered from factories also witnessed a noticeable rise, far above expectations, according to data from the Office of National Statistics issued on Wednesday.
Economists said that these increases, mainly driven by Fuel, the Monetary Policy Committee at the Bank of England (the central bank) is unlikely to raise interest rates at its scheduled meeting next week, and the most important question is whether rising energy prices will exacerbate the inflation problem.
He stated The Office for National Statistics found that motor fuel prices rose by 8.7% during the month, the largest rise since June 2022, shortly after Russia’s all-out invasion of Ukraine.
Most economists polled "Reuters" Their opinions expect an acceleration Headline consumer price inflation rose to 3.3%, driven by a rise in gasoline and other fuel prices during March.
Service price inflation – closely watched by the Bank of England as a sign of longer-term inflation pressures – rose unexpectedly to 4.5% from 4.3% in February, the data showed.
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