British inflation slows unexpectedly in February

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Inflation

dpa/GNA – Britain’s consumer price inflation slowed unexpectedly in February, figures from the Office for National Statistics revealed on Wednesday.

Consumer price inflation eased to 0.4 per cent from 0.7 per cent in January. The rate was initially forecast to rise to 0.8 per cent.

Month-on-month, consumer prices edged up 0.1 per cent, in contrast to January’s 0.2-per-cent fall. This was weaker than the economists’ forecast of 0.5 per cent.

Excluding energy, food, alcoholic beverages and tobacco, core inflation eased to 0.9 per cent in February from 1.4 per cent in January.

Another report from ONS showed that output prices increased for the second month in a row and was the highest annual rate since August 2019. The annual rate came in at 0.9 per cent versus 0.1 per cent in January.

Month-on-month, output prices grew 0.6 per cent, faster than the 0.8-per-cent rise in January. At the same time, input price inflation accelerated to 2.6 per cent, in line with expectations, from 1.6 per cent in January.

On month, prices grew 0.6 per cent after climbing 1 per cent a month ago. Prices were expected to gain 0.7 per cent.

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