MNI DATA IMPACT: CPI Creeps Higher, Lifted By Food Prices>

By Les Commons and Laurie Laird

LONDON (MNI) - The following are the key points from UK labour data 

published Wednesday by the Office for National Statistics. 

     - Consumer price inflation crept higher in February, stretching to 

an annual rate of 1.9%, just above Bank of England staff forecast of a 

1.8% gain. 

     - However, when taken to extra decimal places, the acceleration was 

marginal, with prices rising by 1.87% in February, up from just under 

1.85% in January.

     - The Bank of England expects inflation to edge higher in months 

to come, potentially eroding real wage growth, which stagnated at an 

annual rate of 3.4% in the three months to January, including bonuses. 

     - Food and non-alcoholic beverages added 0.03 percentage points to 

the change in annual CPI in February, with the potential of more upward 

pressure from the food sector in the event of a chaotic Brexit.

     - London house prices retreated by an annual rate of 1.6%, the 

largest fall since September of 2009.  Prices in the capital have not 

recorded an increase in 11 months, for a cumulative declined of 3.3%.