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Inflation in the UK in February slowed to the lowest since September 2021


March, 20 2024
watermark Economic news

According to the UK's National Statistics Office, consumer prices rose 3.4% year-on-year in February, which was the lowest since September 2021.


This growth turned out to be slightly lower than analysts' expectations, according to which inflation was expected to reach 3.5%. Thus, the inflation rate has significantly decreased compared to January, when inflation reached 4%. 


On a monthly basis, prices rose by 0.6% after a January drop of the same percentage, while the analytical consensus predicted an increase of 0.7%.


Core inflation, excluding the cost of food, alcohol, tobacco and energy, also rose by 4.5% year-on-year, which was the lowest since January 2022, and by 0.6% month-on-month. 


The retail price index (RPI), important for determining salary negotiations, showed a slowdown in growth to 4.5% year-on-year from 4.9% in January, reflecting differences in accounting for housing costs, air fares, insurance and gasoline prices between the CPI and RPI indices. The RPI increased by 0.8% compared to January, when it was marked by a decrease of 0.3%.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.