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UK inflation holds steady

Blog by Brad Herman | April 16th, 2013

British consumer price inflation held steady in March at its highest level since last May, while lower oil prices suggested future rises in inflation may be smaller than feared, official data showed on Tuesday.

Annual consumer price inflation held at 2.8 percent, the same as in February and above the Bank of England's 2-percent target, although the finance minister has given the bank leeway to focus more on growth and allow for such inflation overshoots.