In the United Kingdom, inflation reached its lowest level in 2.5 years last month, driven by decreases in the prices of meat, biscuits, and other essentials.

According to data from the UK’s Office for National Statistics (ONS), British consumers faced a 3.2 percent increase in prices for goods and services in March compared to the same month last year. This marks a slight drop from February’s 3.4 percent. In 2022, inflation hit a peak of 11.1 percent.

While lower inflation doesn’t signify an overall decline in prices, it indicates a slower pace of increase. ONS reports that most food prices decreased between February and March, with only bread and grains experiencing slight increases.

Meat prices saw a decline of 0.5 percent, contrasting with a 1.4 percent increase last year. Particularly, pork became notably cheaper for Britons last month.

The significant drivers of high inflation in the UK in recent years have been rising energy and food prices. The post-pandemic surge in demand for oil and gas, coupled with escalating prices following the Russian invasion of Ukraine, contributed to this trend. The war also disrupted the grain supply, leading to higher food prices.

This combination resulted in food and non-alcoholic beverage inflation peaking at 19.2 percent in March last year, marking the highest level since the 1970s.