February’s rate of CPI inflation dropped from 3.6% in Janaury to 3.4% in February, the lowest rate since November 2010, which could be welcome relief for the recovering economy.
The drop was driven by a decline in the price of electricity and gas.
According to data from the Office for National Statistics, the main upwards effect came from alcoholic beverages and tobacco, where prices rose 0.8% between January and February, compared to a fall of 1.1% last year.
Other significant upward contributions came from clothing and footwear, where prices increased 2.9%.
Food and non-alcoholic beverages rose overall by 1.2%, with a 3.3% price increase across vegetables and a 4.3% jump on soft drinks and juices, pushing inflation up.