Inflation drops to 4% in March
Inflation fell by 0.4% to 4% in March, but was still double the Bank of England's target.
The fall in the consumer price index (CPI) marks a drop from the 28-month high of 4.4% in February.
More than a third of economists polled by Reuters predicted that the Monetary Policy Committee will raise the base rate next month, but this does now look more unlikely. Market rates in the City suggest that there is a 70% chance of a rise in May, according to MarketGuard, the rate insurance provider.
April 15, 2011
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