UK Inflation Rises to 3.3% in March Amid Fuel Price Surge

AI Summary

UK inflation increased to 3.3% in March 2026, up from 3% in February, according to preliminary data from the Office for National Statistics (ONS). This rise is attributed to soaring fuel prices, particularly diesel, which neared £2.00 per litre. Economists had anticipated the increase, indicating that the Iran war has significantly impacted consumer prices. The Bank of England is facing a decision on interest rates, with a majority of economists expecting rates to remain unchanged for the year despite concerns over rising inflation and potential stagflation.