"Inflation climbed in March, largely due to increased fuel prices, which saw their largest increase for over three years. Airfares were another upward driver this month, alongside rising food prices."
"The pain at the pump was unmistakable. Petrol rose by 8.6 pence per litre to an average of 140.2p, while diesel leapt by 17.6p to 158.7p, a level not seen since November 2023."
Inflation in the UK rose to 3.3% in March, driven by a surge in fuel prices linked to the Middle East conflict. The Consumer Prices Index increased from 3% in February, marking the first rise since December. Petrol prices reached an average of 140.2p per litre, while diesel prices hit 158.7p, significantly impacting small and medium-sized enterprises that rely on transportation. Airfares also rose by 10% month-on-month, contributing to the inflationary pressures faced by consumers and businesses alike.
Read at Business Matters
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