THE UK’s charge of inflation has risen to 10.4% in February, the newest official figures present.
The speed rose by 0.3% in February, in line with the Workplace for Nationwide Statistics (ONS).
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Greater family power payments, and meals and non-alcoholic drinks had been the most important driver of inflation final month.
In January the speed fell to 10.1%.
What does it imply for my cash?
Falling inflation signifies that the price of items and companies are nonetheless rising however at a slower charge.
However costs are nonetheless increased than they had been.
Foods and drinks costs rose by 16.9% within the 12 months to December 2022, up from 16.5% in November.
Consultants consider the slowdown within the charge of inflation is unlikely to cease the Financial institution of England from mountain climbing rates of interest as soon as extra at its assembly in March.
The transfer will make the price of borrowing, together with loans, bank cards and mortgage repayments dearer.
Though it is excellent news for savers as they might get higher charges on their nest egg.
In his Spring Price range …
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