At the Spring Statement, the Chancellor was very proud to say inflation was down to 3% and falling.

CPI inflation was 3.0% in the 12 months to February 2026, so the '3%' figure around the Spring Statement is accurate. But 'and falling' is not borne out: ONS data show CPI rose to 3.3% in March 2026, so inflation was ticking up rather than falling at that time.

▸ Office for National Statistics (ONS) — Consumer price inflation, UK: March 2026

Checked Wed 1 Jul, 09:53 · Broadcast: PMQs: Prime Minister's Questions - 29 April 2026

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