UK CPI up 3.2%, clothing-footwear prices up 3.9% in year to Mar 2024

The largest downward contribution to the monthly change in CPI annual rates came from food, with prices rising by less than a year ago, while the largest, partially offsetting, upward contribution came from motor fuels, with prices rising this year but falling a year ago.

Core CPI (excluding energy, food, alcohol and tobacco) rose by 4.2 per cent in the 12 months to March 2024, down from 4.5 per cent in February. The CPI goods annual rate slowed from 1.1 per cent to 0.8 per cent during the period.

Prices of clothing and footwear rose by 3.9 per cent in the year to March 2024, down from 5 per cent the previous month. The rate in March was the lowest since November 2021.

On a monthly basis, clothing and footwear prices rose by 0.6 per cent between in March this year, compared with a rise of 1.6 per cent a year ago.

Fibre2Fashion News Desk (DS)