Inflation creeps up to 2.8%
INFLATION nudged up 0.1% in February to 2.8%, partly due to higher fuel bills.
It’s the first time the Consumer Prices Index (CPI) measure of inflation has increased in four months after being stuck at 2.7%.
The Office for National Statistics said the largest upward contributions to the change in the rate came from the expected increases in many gas and electricity bills, and from price changes for some recreational goods, motor fuels and air transport.
The largest downward contributions came from smaller price increases for food and soft drinks than a year ago and price falls for alcohol compared with price rises a year ago.