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Rising energy costs see consumer prices index hit 2.8%

The UK consumer prices index rose to 2.8 per cent in February, according to the Office for National Statistics.

CPI stood at 2.7 per cent for the previous four consecutive months.

The increase comes from the expected rises in many gas and electricity bills and from price changes for some recreational goods, motor fuels and air transport.

The largest downward contributions came from smaller price increases for food and soft drinks than a year ago and price falls for alcohol compared with price rises a year ago.

RPI fell to 3.2 per cent in February, down from 3.3 per cent in January.

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Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

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• Valuations and opportunities in house builders

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