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 consumer price inflation rose to 6.2% year-on-year in February, the highest level since the latest series began in 1997, the Office for National Statistics said Tuesday. The rate, up from 5.5% in February and higher than currently expected by the Bank of England or City analysts, was the highest since March 1992 in a historically modelled series, when it stood at 7.1%. Although the BOE saw inflation lower at this stage in the cycle, it expects prices to rise by around 8% per annum by April.
In February, CPI rose by 0.8% m/m, compared with a rise of 0.1% in the same month last year. This was the largest monthly CPI increase between January and February since 2009.
Factory gate inflation also rose sharply, underlining just how embedded inflation is becoming in the supply chain, with the headline rate of output prices showed positive growth of 10.1% on the year to February 2022, up from 9.9% in January 2022.
The headline rate of input prices showed positive growth of 14.7% on the year to February 2022, up from 14.2% in January 2022. Food products and metals and non-metallic minerals provided the largest upward contributions to the annual rates of output and input inflation, respectively.
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.