Inflation rises to 2.8%

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:

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.

A spokesperson for the Treasury has commented on today's inflation data from the Office for National Statistics.

The spokesperson said: “Inflation is in line with market expectations and down by almost a half from its peak of 5.2 per cent.”

The underlying rate of retail price index inflation fell to 3.2% in February from 3.3% in January, the ONS said.

The headline rate of retail price index inflation fell to 3.2% in February, from 3.3% in January, the Office for National Statistics said.

The rate of consumer price index inflation rose to 2.8% in February, from 2.7% in January, official figures showed today.

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.

Last month it remained unchanged at 2.7%.