UK inflation rate falls to 0.4% in February

According to the Office for National Statistics (ONS), the Consumer Prices Index (CPI) rose by 0.1% on a monthly basis in February 2021, compared to a 0.4% rise over the same period last year. The ONS said this is principally the result of price movements for clothing and footwear, which fell 1.5% between January and February compared to a 0.9% price rise in 2020. Food and non-alcoholic beverages also contributed to the slowdown in inflation, with its headline rate having fallen for the fourth consecutive month. The largest positive contribution to inflation over the last 12 months came...