CPI rises to 2.8% in February
Consumer price inflation grew to 2.8% in February 2013, figures released by the Office for National Statistics have revealed.
The rise was driven by the expected increase in domestic fuel bills, the cost of motor fuel and prices for recreational goods such as games and cameras.
Downward pressures came from smaller price increases for food and soft drinks compared to a year ago and price falls for alcohol.
The increase follows four consecutive months of consumer price inflation remaining at 2.7% and is the highest rate seen since May 2012. The rise will put further pressure on Chancellor George Osborne ahead of tomorrow’s Budget as consumer price inflation remains well above The Bank of England’s target of 2%.
Never Miss a Retail Update!The headline rate of retail price index inflation fell to 3.2% in February, from 3.3% in January.
