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UK inflation holds steady at 2.7 per cent

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LONDON, Feb 12 PA

February 12 2013, 9:03PM

Britain's inflation rate remained unchanged in January, figures show.

The Office for National Statistics (ONS) said the Consumer Prices Index (CPI) was unchanged at 2.7 per cent but economists predict energy price hikes and rising food prices could push the rate above three per cent by the summer.

The Bank of England (BoE) warned last week that inflation might remain above its two per cent target for the next two years.

The BoE will publish its latest quarterly economic forecasts on Wednesday.