A report from research firm GfK has said that British consumer confidence remained at a high in February, due to rising wages and low inflation which has made consumers more confident about their finances.

The confidence index held steady from the rate seen in January, which was the highest since last August.

Managing director of GfK, Nick Moon said time seemed to be running out for a further big rise in confidence among consumers between now and election day on May 7th.

"Unless there is some dramatic change in the indicators that get media coverage, or people start feeling significantly better off as inflation edges towards zero, it is hard to see any major change between now and the election."

It was confirmed via official data that Britain’s economy has grown by 0.5% showing a strong start to 2015.