LONDON, March 25 (Xinhua) -- Britain's consumer price index (CPI) rose by 3 percent year on year in February, unchanged from that in January, data from the Office for National Statistics (ONS) showed on Wednesday. However, analysts expect further impact on the economy as a result of the Middle East tension.
"After last month's slowdown, annual inflation was unchanged," ONS chief economist Grant Fitzner said, citing the largest upward driver as the price of clothing.
"This was offset by falls in petrol costs, with prices collected before the start of the conflict in the Middle East and subsequent rise in crude oil prices," Fitzner added.
On a monthly basis, CPI rose by 0.4 percent in February, the same rate as a year ago.
Stuart Morrison, research manager at the British Chambers of Commerce (BCC), commented that for businesses across Britain, "today's inflation data represents the calm before the storm."
In early trading on Monday, Brent crude price rose above 113 U.S. dollars per barrel, extending gains to roughly 50 percent since the conflict began, earlier data showed.
The February figure shows an economy yet to be impacted by the shock of the Middle East conflict, but BCC's forecast published after the unrest began shows that the war will delay the previously expected slowdown in inflation, he noted.
"UK firms are particularly exposed to the economic impact of the crisis in the Middle East as our electricity prices are tightly tethered to global gas prices. This will feed directly into higher costs and renewed inflationary pressure in the months to come," he added. ■