UK economic growth slows to weakest rate in five years

G7 rivals outpace UK as consumers rein in spending amid Brexit-fuelled price inflation

Britain's economy grew at a slower rate than first thought in the final three months of 2017, leaving the UK lagging further behind other major economies as it prepares to leave the EU.

The Office for National Statistics revised down its estimate for UK growth in the fourth quarter to 0.4%, following an earlier estimate of 0.5% and missing economists' forecasts that the rate would be unchanged.

Gross domestic product (GDP) is a key government statistic and provides a measure of the UK's total economic activity.

Inflation is when prices rise. Deflation is the opposite - price decreases over time - but inflation is far more common.