UK inflation rate remained at 3% in February
[BBC] The UK inflation rate stayed at 3% in February, largely in line with expectations, driven mostly by a rise in the price of clothing. The figures from the Office for National Statistics (ONS) were collected before the US-Israel war with Iran began, which is expected to cause a rise in inflation. Inflation, which measures the rate of price increases, has remained "sticky" after a period of steady falls. Although the rate of inflation has fallen, prices themselves are not coming down, but simply rising at a slower pace. Chief economist of the Office for National Statistics Grant Fitzner said: "After last month's slowdown, annual inflation was unchanged. "The largest upwards driver was the price of clothing, which rose this month but fell a year ago. "This was offset by falls in petrol costs, with prices collected before the start of the conflict in the Middle East and subsequent rise in crude oil prices."
