Graeme Leach, Chief Economist at the Institute of Directors, said: “The fall in inflation has screeched to a halt with the rise in headline consumer price inflation to 3.5 per cent and core inflation to 2.5 per cent.
"This probably puts the brake on any further expansion in quantitative easing in May, but the inflation outlook should still improve in the second half of the year."
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The Committee warned the Government's "clean growth strategy" did not go far enough to meet targets to cut greenhouse gases.
Inflation fell from 3.1% in November, to 3% in the last month of 2017.
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