Slow rise reported in British CPI

Britain's consumer price inflation (CPI) rose by less than expected in February, mainly because clothing prices failed to rebound sharply from the turn of year sales.

The UK's National Statistics office (NS) said the annual rate of EU-harmonised CPI fell to 1.3% from 1.4% the previous month.

Analysts had predicted an unchanged annual rate.

The latest figure compares with the Bank of England's statutory 2% target - a level which CPI has been stuck below since May 1998.