UK: Inflation rate decreased during past month to 10.1 pct

London: Official data showed Wednesday that the inflation rate, according to the Consumer Price Index (CPI), decreased in the UK during the past month by 0.3 percent to reach 10.1 percent, however it is still at the highest level recorded since 1982.

The data contained in a report by the UK Office for National Statistics (ONS) attributed this drop in the inflation rate to the decline in the prices of motor fuel, in addition to the decline in real estate prices and related basic services, especially energy.

The inflation rate continues to suffer from the increase in food prices, which rose between February and March from 18.2 to 19.2 percent, while the costs of entertainment and cultural services increased from 4.1 to 4.6 percent, it stated, noting that food prices are still growing at the fastest rate recorded since 1977.

At the beginning of this year, British Prime Minister Rishi Sunak pledged to cut the inflation rate in half, while UK Chancellor Jeremy Hunt expected the rate to decline to 2.9 percent before the end of 2023.

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