British inflation stood at 2.3 percent in annual terms in the month of March, unchanged from the near four-year high seen in the February reading.
This reading met analyst expectations with the month-on-month figure dropping from 0.7 percent to 0.4 percent. Rising prices for food, alcohol and tobacco, clothing and footwear, miscellaneous goods and services were the main drivers behind the surge in consumer prices, which is above the Bank of England's target of 2 percent for the second month in a row.
This is the highest consumer price growth seen since the end of 2013, the U.K.'s Office for National Statistics noted. However, analysts believe that prices could rise even further. Tuesday's data "represents just a temporary pause in an upward trend which will probably take inflation to just over 3 percent," Ruth Gregory, U.K. economist at Capital Economics, said in an emailed note.
"While food price inflation rose, from 0.3 percent to 1.6 percent, this was offset by a fall in core inflation from 2.0 percent to 1.8 percent. However, the latter mainly reflects a statistical quirk related to the timing of Easter," she added.