“Inflation eased in February. Clothing prices, particularly for women’s clothes, was the biggest driver for this month’s fall,” said ONS chief economist Grant Fitzner.
“This was only partially offset by small increases, for example, from alcoholic drinks,” he added.
The ONS reported that the core CPI, excluding energy, food, alcohol and tobacco, had risen by 3.5 percent in the 12 months to February, down from 3.7 percent in January. The CPI goods annual rate slowed from 1.0 percent to 0.8 percent, while the CPI services annual rate remained at 5.0 percent.
February’s CPI inflation rate was lower than the 2.9 percent market forecast but still higher than the central bank’s 2 percent target.
Britain’s persistent inflation rate has concerned the Bank of England, which held its benchmark rate at 4.5 percent last week.
