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.
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22 Sept 2026 · Impact 6/9
Government borrowing hits £18.3bn in August, £3.5bn above the OBR forecast
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