Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK inflation rose at the slowest pace in two-and-a-half years in February, data released by the Office for National Statistics on Wednesday showed, offering some relief to policymakers at the Bank of England ahead of expected rate cuts later in the year, although the pace remains well above the Bank's 2% target (see MNI BOE WATCH: March Hold Seen, Fresh Cut Clues Likely Sparse).
CPI rose by 3.4% in the 12 months to February, down from 4.0% in January, while core CPI (excluding energy, food, alcohol and tobacco) rose by 4.5%, down from 5.1%. tHE CPI goods annual rate slowed from 1.8% to 1.1%, while the CPI services annual rate eased from 6.5% to 6.1%
The largest downward contributions to the monthly change in CPI annual rates came from food, and restaurants and cafes, while the largest upward contributions came from housing and household services, and motor fuels. Food prices were almost unchanged this year compared with a large rise last year, ONS chief economist Grant Fitzner said. ( see MNI INTERVIEW: Boost To UK Consumer As Inflation Slows-ONS)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.