Labour's Shadow Treasury Minister has responded to today's inflation figures, saying that the government is "making things worse not better."
Cathy Jamieson MP said:
This government is making things worse not better. On top of rising food prices and soaring energy bills, millions will pay more next month as tax credits and child benefit are cut while millionaires pay less. The Budget must act to kickstart our flatlining economy and help people struggling with the rising cost of living right now. The tax cut for millionaires should be cancelled and people on middle and low incomes should be given a tax cut instead - for instance through a temporary VAT cut and by bringing back a lower 10p starting rate of tax.
Utility bills biggest upward contributors to inflation
The biggest upward contribution to the new inflation rate of 2.8% has been increases in gas and electricity bills, as well as price changes for recreational goods, according to the Office for National Statistics.
Also contributing were prices for motor fuels and air transport.
The largest downward contributions came from small price increases for food and drinks.
The Office for National Statistics (ONS) will release inflation figures for February later this morning. The cost of living is expected to rise driven by the fall in value of the pound increasing the cost of imported goods.
ONS due to release latest inflation figures Credit: Dominic Lipinski/PA Wire
