The Consumer Prices Index (CPI) 12 month rate rose by 0.4% in the 12 months to February, down from 0.7% the previous month in signs that inflation remains subdued.

The Consumer Prices Index (CPI) measure of inflation rose 0.7% in the 12 months to January, up from 0.6% in December, the ONS reported today.

CPI inflation doubled in December to 0.6% from 0.3% the previous month.

CPI inflation showed a sharp drop last month from 0.7% in October to 0.3% in November as Black Friday price cuts and shop sales nudged prices down.