UK Inflation Slows Unexpectedly

(RTTNews) - UK consumer price inflation softened unexpectedly in February, data from the Office for National Statistics showed on Wednesday.

The consumer price index logged an annual increase of 2.8 percent in February, following January's 3.0 percent rise. Prices were forecast to climb again by 3.0 percent.

Core inflation that excludes prices of energy, food, alcohol and tobacco, was 3.5 percent, down from 3.7 percent in January. The rate was also below economists' forecast of 3.6 percent.

On a monthly basis, consumer prices moved up 0.4 percent, in contrast to the 0.1 percent fall in January. Economists had forecast prices to increase 0.5 percent.