CPI

Remained unchanged between January and February

No change from previous month

Third consecutive month of increases

Largely unchanged over year

Fell back into deflationary territory in September

Dampens case for UK rate rise

Core inflation rises to highest level in five months

Fund managers and economists have reacted to the surprise news that only one MPC member voted for a rate rise this month, saying the UK economy is 'not out of the woods yet'.

UK CPI inflation fell back to zero last month, down from 0.1% in May, as the prices of clothing, fuel and food all fell.

Liz Ann Sonders, chief investment strategist at Charles Schwab, explores if US valuation measures could be leading investors to the wrong conclusions