ONS: United Kingdom's inflation rate falls to 3.4 pct.

LONDON, March 20 (KUNA) -- Official data released, Wednesday, showed a reduction in inflation rates by calculating the price index in the UK last month from four percent to 3.4 percent, the lowest in approximately 30 months.

The UK's Office for National Statistics (ONS) data showed a direct relationship between the reduction of inflation and of food and non-alcoholic beverages prices, in addition to lower prices in communications and some hospitality services. ONS elaborated that food prices declined between January and February from seven to five percent, whereas communication prices declined from 8.2 to 5.7 percent, and hospitality services and restaurants dropped from 7.1 to six percent.
It is worthy to note that the central bank, the Bank of England, sets two percent as the optimum level of inflation for consumers and for the growth of the country's overall annual gross product. (end) mrn.za.