Inflation slows further to 2.6% after drop in petrol prices

UK inflation slowed down for the second month in a row in March on the back of falling petrol prices, according to official figures.

The Office for National Statistics (ONS) also said a drop in the price of computer games contributed to the lower inflation reading.

The rate of Consumer Prices Index (CPI) inflation eased to 2.6% for the month, from 2.8% in February, the statistics body said.

It was a steeper fall than predicted by economists, who had expected a reading of 2.7% for March, and marks the lowest reading since December.

The bigger-than-expected drop in inflation will be positively received by Chancellor Rachel Reeves, as it moves closer to the Bank of England’s 2% target rate.

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