UK inflation holds steady in March amid Brexit uncertainty

Official figures show that inflation in Britain unexpectedly held steady in March, with most economists blaming the uncertainty surrounding Brexit as a reason why retailers may have kept prices lower than would otherwise have been the case

The Office for National Statistics said Wednesday that consumer prices were up 1.9 percent in the year to March. Most economists had expected inflation to rise slightly to 2 percent, which is the Bank of Englands target rate.

The figures suggest that rising uncertainty related to Britains exit from the European Union during the month may have contributed to the slightly lower outcome. Britain was due to leave the EU on March 29 but it was postponed as Parliament failed to back Prime Minister Theresa Mays Brexit deal. Britain now has a new Oct. 31 deadline.