Inflation in the UK has risen slightly in February to 1.9% on the back of higher food prices, according to the Office for National Statistics (ONS).
Consensus expectations were for inflation to remain at its January two-year low of 1.8% in February, but higher food, alcohol and video game prices caused a slight increase of 0.1 percentage points. However, core inflation, which excludes the most volatile components like food and energy prices, declined slightly from 1.9% to 1.8%, meaning there is a lack of domestic inflationary pressure. Markets have had little reaction to the news, which is also not expected to affect the path of interest rates. Hargreaves Lansdown senior economist Ben Brettell said: "The Bank of England has bee...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes