UK inflation falls to 2.8%
Experts say it was mainly due to a fall in the price of women's clothing.
©AlamyLast updated 26th Mar 2025
UK inflation eased by more than expected last month, new official figures show, delivering a boost to Chancellor Rachel Reeves ahead of her spring statement.
The rate of Consumer Prices Index (CPI) inflation fell to 2.8% in February from 3% in January, the Office for National Statistics (ONS) said.
Most analysts had been expecting CPI inflation to come in at 2.9% for February.
The bigger-than-forecast inflation drop comes on the same day that Ms Reeves delivers her spring statement, where she is expected to announce spending cuts for some Government departments.
Chief Secretary to the Treasury, Darren Jones, said: “Our number one mission is kickstarting growth to raise living standards for working people, that is why we are protecting working people’s payslips from higher taxes.
"In a changing world, we’re focused on delivering economic stability to secure people’s finances – freezing fuel duty, protecting the Triple Lock and increasing the national living wage by £1,400 a year for full-time workers, while going further and faster to drive growth through our Plan for Change. ”
The ONS's chief economist, Grant Fitzner, said: "Inflation eased in February. Clothing prices, particularly for women's clothes, was the biggest driver for this month's fall.
"This was only partially offset by small increases, for example, from alcoholic drinks."
It does still remain above the Bank of England's target of 2% and they expect inflation to temporarily rise to 3.7% this year, mainly due to higher energy prices.