Wyre Forest MP is delighted that UK inflation was at 1.7% last month
A fall in petrol prices has pushed the UKs inflation to the four year low according to figures released today.
For the second consecutive month the Consumer Price Index (CPI) rate has been below the Bank of England’s target of 2%. The Retail Prices Index (RPI) fell from 2.8% in January to 2.7% in February.
Mark Garnier said “Inflation has fallen at the same time as average earnings rose by 1.4% in the three months to January and petrol prices have fallen by 0.8p a litre between January and February.
“This is all great news for hardworking people across Wyre Forest and shows that our long term economic plan is working and providing economic recovery. Locally unemployment is at a record low and we have seen a large amount of investment in the area. However we cannot be complacent and we need to stick to the Governments economic plan to ensure a stable and secure economy which will be more resilient in the future.”