Inflation falls to three per cent

Inflation fell back sharply in February as prices rose by less than a year ago, official figures showed today.

The Consumer Prices Index eased to 3% from a 14-month high of 3.5% in January, the Office for National Statistics (ONS) said.

Prices for items such as petrol and household goods saw smaller increases than 12 months earlier, while British Gas also cut gas prices, the ONS said.nflation fell back sharply in February as prices rose by less than a year ago, official figures showed today.

The Consumer Prices Index eased to 3% from a 14-month high of 3.5% in January, the Office for National Statistics (ONS) said.

Prices for items such as petrol and household goods saw smaller increases than 12 months earlier, while British Gas also cut gas prices, the ONS said.