Inflation flat in year to March
14th April 2015

Inflation was unchanged in the year to March, according to figures from the Office for National Statistics, which show falls in the price of clothing and gas prices produced the largest downward contributions on the rate.

These were offset by a rise in the price of motor fuels and smaller upward contributions from a variety of other products such as food.

This is the joint lowest 12-month rate on record alongside the rate in February 2015 and the first time that prices have fallen between February and March since the CPI was introduced.

Housing and household services prices, overall, fell by 0.4% between February and March 2015 compared with a smaller fall of 0.1% between the same two months a year ago. The downward effect came from changes in gas prices, with average bills falling by more this year than a year ago.

The largest upward contributions came from transport, where prices, overall, rose by 0.7% between February and March 2015 but were little changed between the same two months a year ago. The upward contribution came principally from motor fuels.

Average petrol prices rose by 3.8p per litre between February and March this year compared with no change between the same two months a year ago. Diesel prices also rose this year by 3.5p per litre but fell by 0.4p per litre a year ago.