UK inflation jumps to 3.3% in March as fuel prices spike, complicating path back to cheaper mortgages
Inflation climbed to 3.3% in March, up from 3.0% in February, driven by motor fuel prices after the Middle East conflict. That matters for housing because the Bank of England is widely expected to hold base rate at 3.75% on 30 April, keeping swap rates — the pricing engine behind fixed mortgages — stuck where they are. Lower inflation was the quickest route back to cheaper mortgages. This print pushes that route further out.
What this means for…
Buyers· 2/3
Sellers· 2/3
Wider market· 3/3
Each axis scored 1 (minor) to 3 (major). Total 7/9.
More Macro commentary
19 Aug 2026 · Impact 6/9
UK inflation rises to 2.9% in July as energy price cap lifts household bills
13 Aug 2026 · Impact 4/9
UK economy grows 0.3% in June as services lead, leaving Q2 growth at 0.4%
30 Jul 2026 · Impact 7/9
Bank of England holds Bank Rate at 3.75% for a fifth meeting as inflation risks push back rate-cut hopes
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