Inflation rises in Britain

London, March 20 (IANS) Britain’s Consumer Prices Index (CPI) annual inflation grew by 2.8 percent in February, said the Office for National Statistics (ONS).

The figure was up from 2.7 percent growth in January and the upward change in the rate followed four consecutive months when it stood at 2.7 percent, reported Xinhua citing the ONS.

The CPI rise mainly came from the expected increases in gas and electricity bills and from price changes for some recreational goods, motor fuels and air transport.
Petrol prices rose by 4.0 pence per litre between January and February compared with a more modest 1.9 pence per litre rise in 2012, said the ONS.
Similarly, diesel prices rose by 3.7 per litre in 2013 compared with 1.4 pence per litre in 2012. Air fares also rose between January and February this year but fell between the same two months a year ago.
“Food and non-alcoholic drink prices helped push down on the inflation rate between January and February. The effect came principally from chocolate and confectionery and soft drinks,” said the ONS.
The official statistics agency launched a new measure of consumer price inflation, which was initially known as Consumer Price Index Housing (CPIH), including owner occupiers’ housing costs in March of this year.
The CPIH 12-month rate stands at 2.6 percent in the year to February, up from 2.5 percent in January.