Inflation slows down on falling petrol prices
UK inflation slowed last month on the back of falling motor fuel and computer game prices, official statisticians have revealed.
The Office for National Statistics (ONS) said the rate of the Consumer Price Index (CPI) decreased to 1.7% in February.
Inflation was reported at 1.8% in January, after the cost of energy and aeroplane tickets pushed household prices higher.
The consumer price inflation including owner occupiers’ costs (CPIH) 12-month rate was 1.7% in February, down from 1.8% in January 2020 https://t.co/nTyG2kGIbGpic.twitter.com/2tNhja4u15
— Office for National Statistics (ONS) (@ONS) March 25, 2020
Analysts had forecast that inflation would slow to 1.6% for February.
Mike Hardie, head of inflation at the ONS, said: “There was a slight slowing in the rate of inflation due mainly to falling prices for motor fuels and computer games.”
The inflation figures were announced earlier than usual as the lockdown forced the ONS into altering its release procedures.
