UK CPI up 3.4% in 12 months to Feb 2024; 0.6% rise on monthly basis
21 Mar 24 2 min read
Insights
- The UK CPI rose by 3.4 per cent in the 12 months to February—down from 4 per cent in January.
- The annual rate in February was the lowest since September 2021.
- On a monthly basis, CPI rose by 0.6 per cent compared with a 1.1-per cent rise in February 2023.
- The CPI 12-month rate for clothing and footwear was 5 per cent in February (one-month rate 2.1 per cent).
The October 2022 peak was the highest rate in over 40 years. The annual rate in February this year was the lowest since September 2021, when it was 3.1 per cent.
The easing in the annual rate between January and February this year was a result of prices rising by 0.6 per cent month on month compared with a rise of 1.1 per cent a year earlier.
On a monthly basis, CPI rose by 0.6 per cent in February compared with a rise of 1.1 per cent in February last year.
- US inflation expectations rise for short & long-term horizons
- Turkiye introduces new measures to tackle inflation: Finance minister
- Inflation in Bangladesh drops slightly to 9.74% in Apr; non-food 9.34%
- India's WPI inflation rises to 1.26% in April 2024
- Bangladesh PM for contractionary budget, inflation check
- China's CPI rises 0.3% YoY, 0.1% MoM in Apr 2024; core CPI up 0.7% YoY
The largest upward contributions to the CPI annual rates came from housing and household services, and motor fuels.
Core CPI (excluding energy, food, alcohol and tobacco) rose by 4.5 per cent in the 12 months to February, down from 5.1 per cent in January. The CPI goods annual rate slowed from 1.8 per cent to 1.1 per cent.
In February this year, the country’s CPI 12-month rate for clothing and footwear was 5 per cent, while the one-month rate was 2.1 per cent.
Fibre2Fashion News Desk (DS)
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