UK CPI Misses Estimates in February

UK CPI Misses Estimates in February

The UK Office for National Statistics (ONS) data released today showed the inflation did not rise as fast as expected mainly on account of a drop in bicycle prices.

The headline CPI rose 0.2% m/m and 0.3% y/y, both missing the consensus estimates. Core inflation matched estimates by printing at 1.2% y/y.

According to ONS, “the largest downward contribution came from the transport sector, from price changes for items such as road passenger transport, second-hand cars and bicycles. Rising food prices, particularly for vegetables, offset this.”

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