UK inflation down from 3% to 2.8% in February - Breaking The News

UK inflation down from 3% to 2.8% in February

26 March

1 min read

EPA-EFE/TOLGA AKMEN

Annual inflation in the United Kingdom landed at 2.8% in February, dropping from January's inflation rate of 3% and coming below analysts' expectations, the UK Office for National Statistics revealed in a report on Wednesday.

The largest contributors to the annual inflation rate were the education division, with a 7.5% jump, and the communications division, with a 7.3% increase. On the other hand, clothing and footwear was the only division that observed an annual decline, dropping 0.6% from February 2024.

Consumer prices jumped by 0.4% on a monthly basis, while the Consumer Prices Index, including owner-occupiers' housing costs (CPIH), climbed by 3.7% year-on-year and rose by 0.4% month-on-month.

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