Why are prices rising in the UK?

Quick Summary:

The rate at which prices are rising remains above the Bank of England's 2% inflation target.

Prices in the UK rose by 2.6% in the 12 months to March, less than in the previous month but still above the Bank of England's target.

When rates were held at 4.5% in March, the Bank was concerned about the possible impacts of increases to the amount of National Insurance paid by employers and the minimum wage, both of which took effect at the start of April.

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Article Details

Author / Journalist: BBC News

Category: Business

Markets: United KingdomUkraine

Topics: Interest Rates Inflation March Bank Rate Target Prices 2025 External February

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-16 @ 08:52:57 (1 weeks ago)

News Timezone: GMT +0:00

News Source URL: bbc.co.uk

Language: English

Article Length: 907 words

Reading Time: 6 minutes read

Sentences: 47 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 27987619

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 10 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #43

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