U.K. Feb. CPI climbs a higher-than-expected 10.4% from 10.1%, pound jumps
U.K. consumer prices increased by 10.4% in February, higher than the 10.1% increase in January.
The National Statistics Office in the UK reported Wednesday that U.K. consumer prices rose 10.4% in February from January's 10.1% increase. According to the National Statistics Office, the increase was more than expected by the 9.8% consensus of economists polled at FactSet Research. The Consumer Price Index (CPIH), which includes owner-occupiers' housing costs, rose 9.2% in 12 months to February 2023 from 8.8% in January 2022. This new price increase comes just a day before a Bank of England Monetary Policy Committee decision. The British Pound GBPUSD, +0.44%, jumped on the data, and last up 0.4% at $1.2261.