After a big leap last month, price inflation has remained steady at 2.3% in the latest figures from the Office for National Statistics.

Despite rising food and clothing prices, the Consumer Prices Index (CPI) measure of price inflation remained at 2.3% thanks to a fall in air fares.

This is because Easter fell early in March last year, resulting in a 20% increase in travel costs. 

With Easter back in April this year, the calculation of this price rise fell out of the 12 month inflation figure.

Price inflation is still expected to rise a little higher in the coming months, partly due to a weaker Pound Sterling causing higher imported prices.

With inflation above the Bank of England target of 2%, it is worth considering the impact of rising prices within your own Financial Plan and making provision for this where possible.