A slowdown in food prices has been credited as the reason why UK inflation rate dropped to a two-and-a-half-year low of 3.2% in March, down from 3.4% in February.
ONS chief economist Grant Fitzner said: "Once again, food prices were the main reason for the fall, with prices rising by less than we saw a year ago." However, he also noted that "similarly to last month, we saw a partial offset from rising fuel prices."READ MORE: Martin Lewis explains who does and doesn't have to pay inheritance tax
“Prices are still high in the shops, monthly mortgage bills are going up and inflation is still higher than the Bank of England’s target. At the same time Rishi Sunak risks crashing the economy again with his Liz Truss-backed £46bn unfunded tax plan to abolish national insurance.
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