UK inflation is expected to have eased in February, signalling the “calm before the storm” of bill hikes set to occur next month.

The Office for National Statistics will publish the latest inflation data on Wednesday – the same day the Chancellor will deliver her spring statement.

Most analysts think Consumer Prices Index (CPI) inflation will come in at 2.9% for February, down from the 3% recorded for January.

This would mean the rate remains above the Bank of England’s 2% target.

Economists…