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18/03/2008
UK Consumer Inflation Increases
UK consumer inflation has hit 2.5%, the highest in nine months, due to a new method of calculating energy bills.
The Consumer Prices Index hit 2.5% on an annual basis in February, up 2.2% in January, according to the Office of National Statistics.
Core inflation, which excludes oil and food, fell to 1.2% in February, the lowest since August 2006.
The annual rate of 2.5% is above the government’s target of 2% and presents a challenge to the Bank of England to tackle rising inflation as the economy slows.
(DS)
The Consumer Prices Index hit 2.5% on an annual basis in February, up 2.2% in January, according to the Office of National Statistics.
Core inflation, which excludes oil and food, fell to 1.2% in February, the lowest since August 2006.
The annual rate of 2.5% is above the government’s target of 2% and presents a challenge to the Bank of England to tackle rising inflation as the economy slows.
(DS)
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Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
