UK inflation held steady in February

UK inflation came in at 0.3% for February, according to official figures released on Tuesday.

The Office for National Statistics says the consumer price index — the key measure of inflation — held steady at 0.3%.

The year-on-year figure, the most watched measure, was the same as in January, holding at the highest level in over a year, but disappointing against a forecast of 0.4% from economists.

Core inflation figures, which strip out volatile goods like oil and food, also held steady at the same reading as February — 1.2%.

Prior to the last couple of months, inflation had stayed between -0.1% and 0.1% for 10 months due to a collapse in oil prices and a supermarket price war that has led to slashed prices.

The reading is well below the 2% wanted by Britain’s policymakers. UK inflation hasn’t been higher than 2% since late 2013. Here’s how inflation over the past few years looks:

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