U.K. Inflation Stable At 0.3%
U.K. inflation held steady in February and factory gate prices dropped less than expected, figures from the Office for National Statistics showed Tuesday.
Consumer prices gained 0.3 percent in February from a year ago as seen in January. Prices were expected to increase 0.4 percent.
Month-on-month, consumer prices rose 0.2 percent reversing January's 0.8 percent fall. Economists had forecast a 0.4 percent rise.
Core inflation excluding energy, food, alcoholic beverages and tobacco held steady at 1.2 percent.
Another report from ONS showed that output prices dropped 1.1 percent after easing 1 percent in January. The decline was smaller than an expected fall of 1.2 percent.
At the same time, output prices gained 0.1 percent offsetting January's 0.1 percent drop.
Input prices continued its downward trend in February. Input prices slid 8.1 percent compared to an 8 percent decrease in January. Prices were expected to decline 7.4 percent.
On a monthly basis, input prices edged up 0.1 percent versus January's 1.1 percent decline.
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