Inflation rate falls to lowest level in more than two years

Morrisons shopping basket

The rate of inflation has declined to its lowest point in more than two years, the latest official data has revealed. 

The Consumer Prices Index climbed 3.4% in the 12 months to February, down from 4% in January and less than half of its peak of 11.1% in October 2022, the Office of National Statistics reported. 

 

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