Inflation in Britain fell to its lowest level in 15 months last month, fuelling hopes that the squeeze on consumers is finally abating.
The consumer prices index (CPI) measure of inflation fell from 3.6 per cent in January to 3.4 per cent last month, according to data from the Office for National Statistics (ONS). The figure is the lowest since November 2010 and well below the three-year high of 5.2 per cent in September.
Retail prices inflation, which is used as the benchmark for many wage deals, fell to 3.7 per cent, from 3.9 per cent in January.
While the number would have been welcomed by the Chancellor on the eve of the Budget, economists warned that households were still struggling under rising food and