Economic Buzz: UK Inflation Soars To Multi Decade Highs In February

23 Mar 2022 , 02:45 PM

UK consumer price inflation rose to 6.2 percent in February from 5.5 percent in January, its highest since 1992, the Office for National Statistics said on Wednesday. This was the highest inflation rate in the National Statistic series which began in January 1997, and the highest rate in the historic modeled series since March 1992, when it stood at 7.1 percent. Core inflation that excludes energy, food, alcoholic beverages and tobacco, advanced to 5.2 percent from 4.4 percent in the previous month. Month-on-month, the consumer price index rose 0.8 percent, in contrast to the 0.1 percent fall in January. Monthly inflation was the largest monthly rate between January and February since 2009.

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