However, consumer prices increased by 0.6% month-on-month in February after falling by 0.3% in January. Economists predicted a 0.7% increase in consumer prices month-on-month.
According to the Office for National Statistics,
The Consumer Prices Index, including owner-occupier housing costs (CPIH), increased by 3.8% in the 12 months to February. (Jan: +4.2%).
- Housing and household services and motor fuels made the largest contributions to inflation.
- Prices for housing and household services were up 2.9% in the 12 months to February (Jan: +2.5%).
- Food and restaurants and hotels made the most marked downward contribution.
- Prices for food and non-alcoholic beverages increased by 5.0% in the 12 months to February (Jan: +7.0%).
- Alcohol and…
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