UK inflation unchanged at 0.3%

Higher oil prices, rising wages and dearer imports as a result of a falling pound could push up prices during the course of 2016

Fears of a rise in UK inflation have proved unfounded after the latest official figures showed the annual increase in the cost of living unchanged at 0.3% in February

Cheaper secondhand cars helped to offset rising food prices to keep the inflation rate well below the government's 2% target last month, the Office for National Statistics said.