UK inflation falls to two and a half-year low of 3.4% as food pressures ease – business live

Newsflash: UK inflation has fallen to its lowest level in two and a half years.

The Consumer Price Index has slowed to 3.4% in February, down from January’s 4%, a sign that prices rose at a slower rate last month.

That’s the lowest since September 2021, and a slightly larger fall than the City expected, data from the Office for National Statistics shows.