A slowdown in the pace of food price rises has seen UK inflation fall in figures released today The Office for National Statistics said the slower pace of rises in the price of food and drinks, as well as hospitality services such as hotels and restaurants, were a major factor in the drop from 4 per cent in January.
Monetary Policy Report , the UK’s inflation is set to fall “temporarily” below 2 per cent in the second quarter of this year.Germany’s inflation rate hit 2.5 per cent in February – its lowest since June 2021. Meanwhile, Italy’s inflation rate dropped to 0.75 per cent in February.However, other G7 countries like the US, France and Canada are seeing above-average inflation with respective rates at 3.2 per cent, 3 per cent and 2.8 per cent in February.
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