Inflation in the UK - The Consumer Price Index including owner occupiers' housing costs (CPIH) rose by 3.8% in the year to February 2024, down from 4.2% in January and from its peak of 9.6% in October 2022.
 
Our model inflation forecasts show a peak inflation rate of over 40 years in October 2022, but it has fallen to 3.8% in February 2024, the lowest since October 2021.
 
This decline was driven by a price increase of 0.6% in that month compared to a rise of 1.0% in the previous year.
 
The owner occupiers' housing costs (OOH) component rose by 6.0% in the year to February 2024, up from 5.4% in January, the highest annual figure since July 1992.
 
The increase in OOH prices was 0.9% compared to 0.3% between January and February 2023.
 
The Consumer Price Index (CPI) rose by 3.4% in the year to February 2024, down from 4.0% in January and well below its peak of 11.1% in October 2022.
 
Inflation forecasts indicate a peak since over 40 years ago in October 2022, but have decreased to 3.4% in February 2024, the lowest since September 2021, which was 3.1%.
 
This decrease was due to a price rise of 0.6% in that month compared to a rise of 1.1% in the previous year.
 
Read Also:
 
Warning!
 
This is forex news regarding “UK Inflation Plummets to Lowest Level in 2.5 Years.” This analysis is based on perspectives from fundamental and technical sources and does not constitute advice or solicitation. Always remember that this content aims to enrich readers' information. Always conduct independent research on other forex information to serve as a reference in your trading.
 
Get updated news and articles from GIC Indonesia, which you can check daily on Google News to stay informed about the latest updates in the forex and crypto world. Trade also at GICTrade using an ECN account to enjoy trading with low spreads starting from zero!