U.K. inflation rate falls to fresh four-year low

Lower petrol prices pushed the U.K. inflation rate to a new four-year low of 1.7% last month, figures show. It is the second consecutive month that the Consumer Prices Index rate has been below the Bank of England's 2% target, having stood at 1.9% in January. Inflation measured by the Retail Prices Index (RPI) fell to 2.7% from 2.8% the month before.
Background:
U.K. inflation rate falls to fresh four-year low of 1.7% [BBC]
European shares rebound; euro, pound steady [Reuters]