Consumer prices rose 2.8% in annual terms in February, after an increase of 3.0% in January, according to the National Statistics Office (ONS).
The British inflation It slowed down more than expected in February, which meant a certain relief for consumers before a probable new rebound in prices growth and for the Minister of Finance, Rachel Reeves, before his budget update speech on Wednesday.
The Consumer prices rose 2.8% in annual terms in February, after an increase of 3.0% In January, according to the National Statistics Office (ONS).
The economists surveyed by Reuters had signed up for a 2.9% reading in February, while the Bank of England was waiting for 2.8% in a series of published forecasts in early February. Economists warned that the increase in energy prices will make inflation rise soon.
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“February slowdown is a false sign, since notable short -term price increases are already underway and it is likely that the increase in energy and social security of the month that comes dangerously approaches inflation 4% sooner rather than later,” said Suren Thiru, director of Economics of the ICAEW Accounting Agency.
In his opinion, The Bank of England will keep the caution in the face of pressures on prices. “Although a relaxation of monetary policy in May continues on the table, those responsible for fixing types will want to calibrate the effect of the significant increase in business costs in April and any measure announced in the spring statement before proceeding to another cut of the types,” said Thiru, in reference to the budget update of Reeves.
ANDl Central Bank expects consumer prices inflation to reach a maximum of 3.75% In the third quarter of this year, almost double its 2%target, promoted mainly by the increase in energy costs and regulated rates of domestic supplies and bus tickets.
Source: Ambito
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