UK CPI unexpectedly rises 1.9% y/y in February, core CPI disappoints

The UK Consumer Prices Index (CPI) 12-month rate came in at 1.9% in February, up from January’s 1.8% and bettering the 1.8% print expected, the UK Office for National Statistics (ONS) reported on Wednesday. 

Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.8% y/y versus 1.9% booked in January while missing the consensus forecast.

The monthly figures showed that the UK consumer prices rebounded 0.5% in February, missing +0.5% expectations and -0.8% last.