UK inflation slows to 2.7pc

Britain's annual inflation rate slowed in February as food and transport costs rose by less than one year ago, official data showed on Tuesday, reports AFP from London.

"The Consumer Prices Index (CPI) 12-month rate was 2.7 per cent in February 2018, down from 3.0 per cent in January 2018," the Office for National Statistics (ONS) said in a statement.

Inflation jumped last year and remains at an elevated level after Britain voted to leave the European Union in 2016. The Brexit referendum pushed down the pound, in turn hiking the cost of imported goods.

February's slowdown however calls into doubt whether the Bank of England will increase its main interest rate this Thursday as expected ahead of the latest data.

"The drop in inflation ... creates some breathing space for the BoE's Monetary Policy Committee when it comes to increasing interest rates," said Kevin Doran, chief investment officer at AJ Bell.

 

UK inflation slows to 2.7pc

Britains annual inflation rate slowed in February as food and transport costs rose by less than one year ago, official data showed on Tuesday, reports AFP from London. The Consumer Prices Index (CPI) 12-month rate was 2.7 per cent in February 2018, down from 3.0 per cent in January 2018, the Office for National Statistics (ONS) said in a statement. Inflation jumped last year and remains at an elevated level after Britain voted to leave the European Union in 2016. The Brexit referendum pushed down the pound, in turn hiking the cost of imported goods. Februarys slowdown however calls into doubt whether the Bank of England will increase its main interest rate this Thursday as expected ahead of the latest data. The drop in inflation ... creates some breathing space for the BoEs Monetary Policy Committee when it comes to increasing interest rates, said Kevin Doran, chief investment officer at AJ Bell.