Inflation rose by just 0.1% in February due to third coronavirus lockdown


INFLATION rose by just 0.1% in February due to the third national lockdown in the UK, according to new figures.

Over the year, the rate of Consumer Price Index (CPI) inflation rose by 0.7% in the past 12 months to February, according to the Office for National Statistics (ONS).

The 12-month inflation rate eased between January and February 2021

But it’s down from the 0.9% annual rise seen in January.

The research centre blamed a third coronavirus lockdown for the slowdown, which saw businesses including pubs and non-essential retail temporarily close to curb the spread of the coronavirus.

Falling prices of clothes, second-hand cars and toys were one of the leading reasons behind the slow-down.

ONS deputy national statistician for economic statistics Jonathan Athow said: “A fall in clothing prices helped to ease inflation in February, traditionally a month where we would see these prices rise, but the impact of the pandemic has disrupted standard seasonal patterns.

“Elsewhere there were falls in the price of second-hand cars.

“However, prices at the pump rose this month, compared with a fall this time last year.”

More to follow…

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