- Prior +3.0%
- Core CPI +3.5% vs +3.6% y/y expected
- Prior +3.7%
The readings are a surprise to the downside even as services inflation held unchanged at 5.0% in core terms on the month. Instead, goods inflation was the one leading the drop with a fall from 1.0% in January to 0.8% in February. The former will not be too welcome by the BOE as it reaffirms stickier inflation as a whole still.
This article was written by Justin Low at www.forexlive.com.