Market News
UK inflation rate stays at 3% in year to February - BBC
The UK inflation rate stays at 3% in the year to February, the Office for National Statistics (ONS) says
That had been expected - the ONS says clothing was the largest driver of inflation, but this was offset by lower petrol prices before the US-Israel war with Iran
These latest figures were collected before the war began, so won't show the impact it has had on the UK's economy - it therefore doesn't tell us much about the future direction of prices
Following the announcement, Chancellor Rachel Reeves says she has the "right economic plan" to support working people; the Conservatives say the cost of living is "rising too fast"
The inflation rate staying the same doesn't mean prices are too, it means they are rising at the same rate - more on what inflation is here
Figures we get in the next few months are likely to show a hoped-for drop in inflation has derailed, Dharshini David writes
