Pound went down by 0.7 per cent against the dollar today
At 2.5 per cent, UK inflation unexpectedly cooled to a one-year low in March, according to ONS figures which again raises doubt whether the Bank of England will hike interest rates next month.
The annual change in the consumer price index fell to 2.5 per cent in March from 2.7 per cent in February. Analysts were expecting the rate to remain unchanged.
Meanwhile, teh news sent the pound down by 0.7 per cent against the dollar on the day, to $1.4189.
Office for National Statistics Head of Inflation, Mike Hardie said: “Alcohol and tobacco also helped ease inflation pressures, with tobacco duty rises linked to the Budget not appearing this March, thanks to its new autumn billing.”
The ONS also said house prices in February rose by 4.4 per cent year-on-year across the United Kingdom as a whole compared with 4.7 perv cent in January, the weakest increase in seven months.