Inflation increased again in February to 8.5% following three months of declines

February is now the 17th straight month of inflation being above 5%

Inflation had been falling for three months in a row but it is now increasing once again. 

Inflation in February rose by 8.5% as the European Central Bank (ECB) meets today to decide on the next round of interest rate increases in an attempt to stem further increases.

Annualised inflation rates had been slowing for three months in a row and hit 7.8% in January. However, prices once again rose in February largely due to increases in the prices of electricity, gas, solid and liquid fuels which all saw the biggest increases.