February 'sees higher inflation'

Inflation has been on the up in the month of February, according to figures released by the Office for National Statistics, in news which could affect the housing market.

Both the Consumer Price Index (CPI) and the All Items Retail Prices Index excluding Mortgage Interest Payments (RPIX) saw inflation increases in February from the month before.

The CPI increased by 0.3 per cent to 2.5 per cent last month, while the RPIX went up by the same amount to 3.7 per cent.


In February the Retail Price Index (RPI) stayed at the same rate of 4.1 per cent from January.

Effects of factors which influenced the inflation rise of the CPI were offset by other elements such as mortgage interest payments and the depreciating value of houses in the current economic climate.

The Bank of England has announced that the rate of inflation could prevent the monetary policy committee from cutting UK interest rates in the foreseeable future.



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