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Financial News: UK Inflation Slows In February

UK Inflation Slows In February

03/25/2020 - 03:36:00 (RTTNews)

(RTTNews) - UK consumer price inflation slowed marginally in February, data from the Office for National Statistics showed Wednesday.

Consumer prices advanced 1.7 percent from last year, as expected, after gaining 1.8 percent in January.

Meanwhile, core inflation that excludes energy, food, alcoholic beverages and tobacco, rose to 1.7 percent from 1.6 percent in January. The expected rate was 1.5 percent.

On a monthly basis, overall consumer prices rose 0.4 percent versus forecast of 0.3 percent.

Another report from ONS showed that output price rose only 0.4 percent annually in February, which was the lowest rate since July 2016. Economists had forecast prices to climb 0.9 percent after rising 1 percent in January.

Nonetheless, the annual rate has remained positive for 44 straight months.

Month-on-month, output price inflation turned negative in February. Prices dropped 0.3 percent, following a 0.2 percent increase seen in January.

Input prices fell for the first time in three months in February. Prices were down 0.5 percent on year, in contrast to a 1.6 percent rise seen in January.

Likewise, input prices decreased 1.2 percent on a monthly basis after rising 0.3 percent a month ago. This was the lowest since December 2018.

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