Inflation has fallen below the Government’s target of 2.5% to 2.4% in February according to figures from the Office for National Statistics released this morning. Inflation has been steady at 2.6% for the last two months.
The fall is expected to raise hopes of a further cut in interest rates by the Bank of England when its Monetary Policy Committee meets next month. The Retail Prices Index for February was 163.7, a 2.1% increase on February 1998 and a 0.2% increase on January this year.
Subscribers can access RPI trends by selecting “Encyclomedia” from the drop-down box at the top of this page.
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