Martin Lewis has given his reaction to the inflation rate dropping to its lowest level in over two years.

The headline rate of inflation fell from 3.4 per cent in February to 3.2 per cent in March.

In a post on X Mr Lewis described this drop as “a big improvement from 10.1 percent a year ago.

Mr Lewis said: “To be clear though this doesn’t mean prices are lower.

“On average things still cost 3.2 percent more than a year ago, and something costing £100 two yrs ago now costs an avg £113.60

The news comes from the Office for National Statistics (ONS), whose chief economist Grant Fitzner said: “Inflation eased slightly in March to its lowest annual rate for two and a half years.

“Once again, food prices were the main reason for the fall, with prices rising by less than we saw a year ago.

“Similarly to last month, we saw a partial offset from rising fuel prices.”

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