UK CPI eases more than expected to 2.7% in February

The UK Consumer Prices Index (CPI) 12-month rate was 2.7% in February 2018, down from 3.0% in January 2018 and also lower than 2.8% anticipated, the UK Office for National Statistics (ONS) reported this Tuesday. 

Meanwhile, the core inflation gauge also ticked lower in Feb., coming in at +2.4 y-o-y, down from previous month's reading of 2.7% and 2.5% expected. 

On monthly basis, the UK inflation rose 0.4% in Feb. vs. -0.5% last month and expectations of 0.5%.  

ONS reports: “The largest downward contributions to the change in the rate came from transport and food prices, which rose by less than a year ago.”