UK CPI steadies at 1.9% y/y in March, misses estimates (GBP slips)
|The UK Consumer Prices Index (CPI) 12-month rate came in at 1.9% in March, same as that seen in February while missing the 2.0% print expected, the UK Office for National Statistics (ONS) reported on Wednesday.
Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.8% y/y versus 1.8% booked in February while missing the consensus forecast of 1.9%.
The monthly figures showed that the UK consumer prices eased 0.2% in February, missing 0.3% expectations and 0.5% last.
Main Points (via ONS):
“Rising prices for motor fuels and clothing produced the largest upward contributions to change in the rate between February and March 2019.
The largest, offsetting, downward contributions came from across a range of recreational and cultural goods, food and motor vehicles.”
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