BULLET: UK DATA: Feb CPI Creeps Above BoE Forecast, Lifted...>

{UK DATA: Feb CPI Creeps Above BoE Forecast, Lifted By Food Prices>}

-UK Feb CPI +1.9% y/y vs +1.8% in Dec

-UK Feb Core CPI +1.8% y/y vs +1.9% in Dec

-UK Feb RPI +2.5% y/y, unchanged from Jan

-UK Feb RPIX +2.4%, down from +2.5% in Jan, lowest since October 2016

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UK consumer price inflation inched higher in February, although the 

acceleration was slightly overstated by rounding. To two decimal places, 

CPI advanced by an annual rate of 1.87% in February, up just a touch 

from 1.848% in January, but slightly above the Bank of England forecast 

of 1.8%. However, BoE staff have forecast a pick up in CPI in months to 

come, potentially eroding real wage growth. Food and non-alcoholic 

beverage prices added 0.03 percentage points to the change in CPI, the 

largest upward pressue from this sector since July of 2018.