20/04/2004

UK inflation rate falls to 1.1%

The latest figures on UK inflation has revealed a surprise fall taking the rate to 1.1%.

The Consumer Price Index had been expected to show a slight rise, but today's figures showed a dip of 0.2% on the February figure of 1.3%.

One of the main factors influencing the inflation rate figures was transport costs which have been lower than expected due to a slower than anticipated rise in the cost of diesel and petrol.

Though the slight lessening of inflationary pressure within the economy has reduced fears of a further rise in interest rates by the Bank of England's Monetary Policy Committee, the continuing rise in house prices indicates that a rise is still on the cards.

(SP)

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