UK inflation dips slightly but remains in double figures amid cost of living crisis

Annual rate as measured by consumer prices index dropped to 10.1% in March, says ONS

UK inflation has dipped slightly but remains in double figures amid the cost of living crisis and is still at one of the highest levels in four decades.

The Office for National Statistics said annual inflation as measured by the consumer prices index fell to 10.1% last month, resuming a downward trajectory after an unexpected rise to 10.4% in February. Inflation had peaked at 11.1% in October. City economists had forecast a drop to 9.8%.