Annual inflation rate United kingdom It reached 3.4% in February, which is six-tenths less than the increase recorded in January and the best Index reading since September 2021.
This is reflected in the data published by Office for National Statistics (ONS), This indicates that the UK CPI continues to moderate since reaching a record level since 1997 of 11.1% in October 2022.
However, the decrease may not be enough to Bank of England It decides to cut the reference interest rate tomorrow, Thursday, to 5.25%.
high cost of living
The increase in the cost of living in the UK was mainly driven by a 5% increase in the cost of food and non-alcoholic drinks, compared to 6.9% in January. While tobacco and alcohol rose 11.9%.That’s down half a percentage point from the previous month.
AndTo increase the prices of all goods Its growth slowed to 1.1% from 1.8%, while services growth eased to 6.1% from 6.5%.
Thus, after deducting the impact of energy and fresh food, the core CPI (excluding energy, food, alcohol and tobacco) rose 4.5% year-on-year in February, compared to 5.1% in January.
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