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In March, the United Kingdom records a spike in price inflation

Princess Tarfa

According to official data released on Wednesday, Britain's inflation rate increased in March. The information shared has fueled analyst’s concerns that rates will rise as the nation emerges from its state of emergency, during this pandemic.

According to the Office for National Statistics, the Consumer Prices Index average increased to 0.7% last month due to increasing prices for clothes and motor fuel.

Despite of the boost in the economy, there is still a major concern that global inflation will rise this year.

"The UK has reached a critical mass in its economic response to the pandemic outbreak. It has led to market inflation which is now on an upward trend and may continue so for some time," Quilter Investors fund manager Paul Craig warned.

Even after following a fruitful vaccination campaign, British Prime Minister Boris Johnson's government is looking for a staggered reopening.

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