The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.7% in December 2017, down from 2.8% in November 2017.
Following a steady increase from late 2015, since April 2017 the CPIH rate has levelled off, ranging between 2.6% and 2.8%.
The downward effect came mainly from air fares, along with a fall in the prices of a range of recreational goods, particularly games and toys.
The downward contributions were partially offset by an increase in tobacco prices, reflecting duty increases that came into effect following the Autumn Budget, along with an increase in petrol and diesel prices.
The Consumer Prices Index (CPI) 12-month rate was 3.0% in December 2017, down from 3.1% in November 2017
The Consumer Prices Index (CPI) annual inflation grew by 2.8% in February 2013, up from 2.7% in January. The change in the rate follows four consecutive months when it stood at 2.7%.
The largest upward contributions to the change in the rate came from the expected increases in many gas and electricity bills and from price changes for some recreational goods, motor fuels and air transport.
The largest downward contributions came from smaller price increases for food and soft drinks than a year ago and price falls for alcohol compared with price rises a year ago.
CPIH, the new measure of consumer price inflation including owner occupiers’ housing costs, grew by 2.6% in the year to February 2013, up from 2.5% in January.