Consumer price inflation (CPI) in the U.K. hitting its highest level since September 2013, official data showed. In a report, the U.K. Office for National Statistics said the rate of consumer price inflation rose from the year before by a seasonally adjusted 2.3% last month, above forecasts for a gain of 2.1% and compared to the 1.8% increase seen in January. Month-over-month, consumer price inflation rose by 0.7% in February, compared to the prior month’s 0.5% decline and forecasts for a 0.5% gain. Core CPI, which excludes food, energy, alcohol, and tobacco costs rose at a seasonally adjusted rate of 2.0% last month, higher than forecasts for a gain of 1.8% and compared to the 1.6% advance in January. (21.03.2017)
Source: Investing
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