UK inflation remained at 0.3% last month as the falling cost of second-hand cars was offset by rising food prices, according to official figures. 

The Office for National Statistics said the cost of second-hand cars fell 5.6% year on year in February, while motorbikes and bicycles also dropped 3.6% over the same period. 

UK food prices were down by 2.4% compared with February 2015, but the fall was smaller than the 2.8% annual drop seen in January 2016, driven in part by the rising price of potato crisps. 

Despite February's 0.3% rise in the Consumer Prices Index, UK inflation still remains historically low, with the Bank of England predicting it to stay far below the government's target for some time. 

Sharply lower oil prices have also kept a lid on inflation, leaving the central bank in no hurry to raise rates above 0.5%, where they have remained for nearly seven years.

February's unchanged level of inflation comes after three months of rising consumer prices.

A large upward impact on February's rate of inflation came from food and non-alcoholic beverages, which saw overall prices rise by 0.1% during the month, compared with a fall of 0.2% a year ago. 

Meanwhile, transport had a downward effect, with prices for January and February this year remaining unchanged, compared with a rise of 0.4% between the same two months a year ago. 

Clothing prices were up 0.4% compared with a year earlier, while gas prices were down 6% over the same period following energy giant E.ON's move to cut the cost of gas by 5.1% for two million customers last month.

The inflation announcement comes after the Bank of England voted to keep rates on hold again this month and warned that Britain's vote on its European Union membership could hit UK economic growth. 

The Office for Budget Responsibility also cut its growth forecasts for the UK economy in Chancellor George Osborne's Budget amid concerns over slowing global growth. 

It downgraded its forecast for gross domestic product (GDP) from 2.4% to 2% this year, from 2.5% to 2.2% in 2017, from 2.4% to 2.1% in 2018 and from 2.3% to 2.1% in both 2019 and 2020.