UK's annual inflation at lowest level since September 2021

ISTANBUL

The annual inflation rate in the UK dropped to 3.4% in February, down from 4% in January, hitting the lowest level since September 2021, according to official figures by the Office for National Statistics on Wednesday.

The main reason for the drop was the price decline in food, and restaurants and cafes.

Meanwhile, housing and household services, and motor fuels were the largest upward contributors in the month.

On a monthly basis, consumer prices rose by 0.6% in February 2024, compared with a rise of 1.1% in February 2023.

Core CPI -- excluding energy, food, alcohol and tobacco -- rose by 4.5% in the 12 months to February 2024, down from 5.1% in January.