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Birmingham Post
Birmingham Post
Business
Sion Barry

Rate of inflation in the UK falls shows latest ONS figures

The UK inflation rate fall in February on the back of falling motor fuel and computer game prices, show latest figures published by the Office for National Statistics.

The ONS, based in Newport, said the rate of the Consumer Prices Index (CPI), which includes occupiers' housing costs, 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.

Analysts had forecast that inflation would slow to 1.6% for February.

The largest contributions came from housing, water, electricity, gas and other fuels (0.52 percentage points).

Falls in the price of motor fuels, and games, toys and hobbies resulted in the largest downward contributions.

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.

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