United Kingdom Inflation Rate Firms At 0.3%

According to statistics from the Consumer Prices Index, the United Kingdom economy stays unchanged at 0.3% in February.

The Office for National Statistics (ONS) reveals the food prices saw the biggest rise, particularly vegetables, but transport costs fell.

Pound
Pound

Annual inflation has been below the Bank of England’s 2% target for two years, and last year it was zero.
The Bank said last month that it expected inflation to stay below 1% this year.

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Other figures published by the ONS at the same time indicated that Chancellor George Osborne is close to missing his target for cutting the country’s budget deficit in the 2015-16 financial year.

Government borrowing fell less than expected in February, coming in at £7.1bn, according to the ONS.

That brings the total deficit for the 11 months of the year so far to £70.7bn, as against the chancellor’s full-year target of £72.2bn.

 

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Daniel Enisan is a content writer at edliner.com. With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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