British inflation was stable at 1.9 percent in March, according to figures released Wednesday by the Office for National Statistics (ONS).

Meanwhile, data showed that the house prices across Britain grew by 0.6 percent in the year to February, compared with a year ago, hitting the lowest annual growth since September 2012.

The average house price in Britain was 226,000 pounds( about 294,794 U.S. dollars) in February, 1,000 pounds higher than the same period a year earlier.

In terms of region, London continued to be the highest with an average house price of 460,000 pounds.

Mike Hardie, head of inflation in ONS, said: "Annual house price growth has slowed to the lowest rate in close to seven years."

"Inflation is stable, with motor fuel prices rising between February and March this year, offset by falls in food prices as well as the cost of computer games growing more slowly than it did at this time last year," Hardie said.

James Smith, developed markets economist in ING, said "UK inflation came in slightly below consensus in March, keeping headline CPI below target for the third month running."

"The overall outlook is benign and we do not expect a rate hike from the Bank of England this year," Smith said.

Philip Hammond, Chancellor of the Exchequer, said on twitter that "today's ONS data shows inflation has stayed low and close to target, keeping costs down for families and businesses". (1 pound equal to 1.30 US dollar)