UK businesses increased their prices for goods and services at the slowest pace in almost two years in March, according to the Lloyds Bank UK Sector Tracker, indicating UK inflation was likely to ease further in the coming months.
The Tracker’s measure of price inflation across UK manufacturing and services sectors fell from 62.2 in February to 58.9 in March. This was its lowest level since April 2021, and the largest month-on-month decline since April 2020. A reading on the Tracker above 50.0 indicates price inflation, while a reading below 50.0 indicates price deflation.…
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