Inflation slows

Retail Prices Index (RPI) inflation slowed to 4.5% over the 12 months to February, down from 4.9% (12 months earlier in February 2023 RPI was running at 13.8%).

The Office for National Statistics described the latest rate as the lowest for nearly two-andhalf years with Consumer Prices Index (CPI) inflation at 3.4%, from 4.0% (CPIH including a housing element slowed to 3.8%, from 4.2%).