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March 2024 CPI

ended 17. April 2024

The Consumer Prices Index (CPI) rose by 3.2% in the 12 months to March 2024, down from 3.4% in February. On a monthly basis, CPI rose by 0.6% in March 2024, compared with a rise of 0.8% in March 2023. The largest downward contribution to the monthly change in both CPIH and 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. Other key findings >> here <<. With this in mind, a few quick Qs. Deadline is very tight so respond ASAP.

  • What does this mean for savers?
  • What does this mean for investors, e.g. how will it impact markets?
  • When is that first cut from the Bank of England now likely in your opinion?

2 responses from the Newspage community

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Editor
Samuel Mather-Holgate
Independent Financial Adviser at Mather and Murray Financial
Todays figures should be widely welcomed, and central bank rates should fall soon, following any normal logic. Far from this rational world, the markets are expecting fewer rate cuts this year and starting later. The Bank of England seem set on stifling the economy to ensure the corpse of inflation received one more bullet. The markets should see this with optimism, as it’s great news for everyone’s household finances and business costs so will be widely appreciated on the bourses.
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Gary Bush
Financial Adviser at MortgageShop.com
All eyes will be on the banks and building society's for movement in their savings and mortgage fxed rates as the inflation data comes in lower again. Let's hope we see some even handed decreases in both products from providers and not just directed at savers. Despite some feeling that inflation data came in higher than expected any progress against this monster is surely progress that should be respected by the Bank of England rate decision shortly.