UK inflation up to 10.4% in February The annual inflation in t | LAGFX Forex Learning Lounge

UK inflation up to 10.4% in February
The annual inflation in the United Kingdom came in at 10.4% in February, the Office for National Statistics revealed in its report on Wednesday. The figure was higher than analysts expected and was up compared to January's 10.1%. On a monthly level, consumer prices rose 1.1%.

Meanwhile, the Consumer Prices Index including owner occupiers' housing costs (CPIH) saw a 9.2% jump in the reported month, year over year, while the reading was up 1% compared to January. The Consumer Price Index (CPI) excluding food, energy, alcohol and tobacco surged 6.2% on an annual level and 1.2% on a monthly basis.

The report noted that the biggest contributors to the monthly increases in CPIH and CPI were restaurants and cafes, food, and clothing. This was partially offset by "downward contributions from recreational and cultural goods and services (particularly recording media), and motor fuels."