Inflation rate falls

Consumer Price Inflation, February 2014: ONS

  • The Consumer Prices Index (CPI) grew by 1.7% in the year to February 2014, down from 1.9% in January
  • The largest contribution to the fall in the rate came from transport (principally motor fuels) with other smaller downward effects from the housing & household services and clothing & footwear sectors.
  • These were partially offset by upward contributions from furniture & household goods and recreation & culture.
  • CPIH grew by 1.6% in the year to February 2014, down from 1.8% in January. CPIH is a measure of UK consumer price inflation that includes owner occupiers’ housing costs
  • RPIJ grew by 2.0%, down from 2.1% in January. RPI is a long-standing measure of UK inflation that has historically been used for a wide rangeof purposes such as the indexation of pensions, rents and index-linked gilts.