House price growth at six-year low

House prices rose in February at the slowest rate since September 2012 while in London house prices fell, the Office for National Statistics said.The ONS said inflation was stable at 1.9% in March as a rise in fuel prices from February was offset by falls in food prices.The Bank of England targets inflation - the rate of price increases - at 2%.

"This follows efforts by policymakers to cut down on riskier mortgage lending, though clearly uncertainty over Brexit will have played a large part in the capital's faltering housing market," he said. Inflation in the games, toys and hobby sector fell to 1.1% in March from 3.1% in February helping to keep a lid on the overall basket of prices, economists said.

Howard Archer, economic adviser to the EY Item Club of forecasts said it was"decent news for both consumers and the Bank of England".

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