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- UK consumer price index rose less than expected in February
UK consumer price index rose less than expected in February
According to the report from Office for National Statistics, the Consumer Prices Index (CPI) rose by 0.4% in the 12 months to February 2021, down from 0.7% to January 2020. Economists had expected a 0.8% increase. On a monthly basis, CPI rose by 0.1% in February 2021, compared with a 0.4% rise in February 2020. Economists had expected a 0.5% increase.
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 0.7% in the 12 months to February 2021, down from 0.9% to January.
The largest upward contribution to the CPIH 12-month inflation rate came from transport (0.30 percentage points).
Falling prices for clothing, second-hand cars, and games, toys and hobbies resulted in the largest downward contributions to the change in the CPIH 12-month inflation rate between January and February 2021. These were partially offset by large upward contributions from rising prices for motor fuels, and housing and household services overall.
On a monthly basis, the CPIH rose by 0.1% in February 2021, compared with a larger rise of 0.3% in February 2020.
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