Inflation's huge post-Brexit vote surge took a breather in March

LONDON — UK inflation’s huge surge since the Brexit referendum paused in March, remaining at the same level seen in February, according to the latest release from the Office for National Statistics on Tuesday.

The ONS said that the UK’s consumer price index — the key measure of inflation — was 2.3%, flat from February, and in line with the forecasts of economists polled before the release. 

Core inflation figures, which strip out volatile goods like oil and food, actually fell, dropping from 2.0% in February, to 1.8% in March.

CPIH — which includes CPI and owner occupiers housing costs — also hit 2.3% in the month, again flat from February. From last month, the ONS began including extended commentary on CPIH in its CPI releases, as it believes the reading is a more accurate gauge of price changes.

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