United Kingdom Inflation

United Kingdom

Inflation edges down over-four-year low in February

In February, consumer prices increased 0.5% over the previous month, which contrasted the 0.6% decline observed in January. February's increase was in line market expectations of a 0.5% rise. The rise was mainly driven by an increase in prices for furnishings, household equipment and routine house maintenance as well as for clothing and footwear. In spite of the higher monthly figure, annual inflation edged down from 1.9% in January to 1.7% in February, which marked the lowest level since October 2009. Meanwhile, annual average inflation inched down from 2.5% in January to 2.4% in February. In its latest inflation report from February, the Bank of England projects that inflation will average 2.2% in both 2014 and 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2014, which is unchanged from last month's forecast. For 2015, the panel forecasts inflation to average 2.3%.


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United Kingdom Inflation Chart

United Kingdom Inflation February 2014

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Office for National Statistics (ONS).

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