UK inflation slows to 0.4%; third Covid-19 wave fears weigh on markets – business live

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Clothes and footwear prices in biggest fall since 2009 as latest UK lockdown prompted more discounting

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. UK inflation slowed to 0.4% in February from 0.7% the month before, according to the Office for National Statistics. City economists had expected a slight uptick to 0.8%. Prices for clothes, second-hand cars, and games, toys and hobbies fell, which was partly offset by higher transport costs and petrol prices. Clothing and footwear prices fell 5.

 

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