Inflation hit 2.5 per cent in February, its highest level for nine months.

Figures released by the Office of National Statistics (ONS) revealed that the consumer prices index (CPI) was up 0.3 per cent on January.

While higher food and fuel prices were recorded, the ONS said the rise was down to a change in the methodology and that on the old measure, inflation was in fact unchanged from the previous month.

However, inflation remains above the Bank of England's target, casting a shadow of doubt of next month's interest rate decision.

Business leaders had been hoping for a cut to ease the credit crunch and encourage consumers to get spending again.

But today's figures will be cause for concern for the bank's monetary policy committee (MPC), as keeping CPI inflation within one per cent of the two per cent target is its sole remit.

The RPI, an alternative measure of inflation that includes mortgages, was unchanged on January at 4.1 per cent.

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