Breaking news: Inflation fell in February
THE headline rate of inflation fell to a 15-month low this morning.
New figures from the Office of National Statistics showed that CPI inflation was 3.4% in February, down from 3.6% in January.
The latest fall means that CPI inflation is now at its lowest level since November 2010.
Falling energy costs were among the biggest downward pressures while alcohol and vegetables saw some of the biggest rises.
Coverage of the inflation data is brought to readers of TheBusinessDesk.com in partnership with stockbrokers Redmayne-Bentley.
Senior stockbroker David Scott said: “The annual rate of inflation in the UK slowed in February, as the consumer price index rose 3.4% on the year, compared with a rise of 3.6% in January, exceeding economists’ expectations of 3.3%.
“Policy makers expect the annual rate to slow to the central bank’s 2% target by the end of the year, although they’ve warned the pace and extent of inflation’s retreat is highly uncertain, as oil and difficulties in the Middle East will be central to this forecast.”
The inflation figures are one of the last major pieces of economic data to be publised before the Budget tomorrow.
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