UK inflation fell in March to 10.1 percent but remains “stubbornly high”.

This figure is a drop from February’s 10.4 percent reading but was above consensus expectations of 9.8 percent, which would have provided the first inflation reading under 10 percent since August 2022.

Tom Hopkins, a portfolio manager at BRI Wealth Management, attributed the decline to a year-on-year fall in energy prices and some easing in the food shortages seen in February.