Inflation stuck below expectations at 0.3% in February

In January, UK inflation hit its highest level in 12 months, increasing by 0.3% year-on-year, but is still way off the Bank of England's 2% target. February saw no change in this rate, despite expectations the rate would edge up again last month, with some commentators forecasting a slight uptick to 0.4%. The latest figures from the Office for National Statistics (ONS) also indicate that contributions to the change in the Consumer Price Index (CPI) rate from each sector of the economy were relatively small compared with most months. The ONS said: "The largest downward contribution ...