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Inflation falls to 3.4%

The UK consumer prices index fell to 3.4% in February 2012, down from 3.6% in January, the latest figures from the Office for National Statistics show.

The largest downward pressures came from domestic electricity and gas, recreation and culture and transport.

Partially offsetting these were upward pressures from alcohol off sales and vegetables.

Meanwhile the retail prices index fell to 3.7% in February, down from 3.9% in January.

The largest downward pressures came from motoring expenditure and fuel and light. Partially offsetting these was an upward pressure from alcoholic drink.

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  • Phil Shelford 20th March 2012 at 2:22 pm

    yet diesel at my local Tesco has gone up 5p a litre in the last three weeks and the cost of fuel directly impacts the cost of all other goods that are transported to shops. Doesnt feel like inflation fropping to me.