UK inflation rate leaps to 2.3%

Breaking News image

Inflation, as measured by the Office for National Statistics’ Consumer Price Index, jumped to 2.3% in February – up from 1.8% in January.

The rate is the highest since September 2013 and above the 2% target the Bank of England is charged with keeping inflation at.

Rising fuel and food prices were the main factors pushing inflation higher.

The Brexit vote last June prompted a steep fall in the value of the pound, making imported goods more expensive.

The Bank of England has said it expects inflation will peak at 2.8% next year.

This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version.

If you want to receive Breaking News alerts via email, or on a smartphone or tablet via the BBC News App then details on how to do so are available on this help page. You can also follow @BBCBreaking on Twitter to get the latest alerts.

UK inflation rate leaps to 2.3%

Leave a Reply

Your email address will not be published. Required fields are marked *