Consumer price inflation, UK: February 2023

Hi Recession

Depression more like

Sheesh

Hot inflation! 25BPS confirmed!

Wow. very hot numbers. CPI and core CPI higher by a good number. Also CPI above 10%.

what can 25BPS do.

The OBR forecasts said inflation in the UK would fall from 10.7% in the final quarter of last year to 2.9% by the end of 2023. this is not visible.

Need to see higher than 25bps due to hotter inflation, else short GBP against CHF tomorrow

Damn, that's some high inflation right there, thank god I visited when it wasn't so bad

other country cpi down, Uk cpi up. Maybe something wrong happen in Uk. really bad for gbp in my opinion

Sell GU

Long GU..1.265XX

Omg. UK is sooooo screwed. Jeremy Hunt praising himself as well lmao

I expect BoE will go for 0.25bps as a 'hedging-their-bets'. This figure is an estimate not a final figure and even though this higher figure is definitely a surprise, warranting tightening, there are some details in the fine print to consider.
"This is the second and final update in 2023" of "expenditure weights" used in these statistics, i.e. each month has not been directly comparable with either the previous month or the month a year ago. It will be so for the rest of the year.
A steep incline in inflation in Europe really kicked off in March last year, lest we forget Russia invading Ukraine on 24th February, 2020, so it's plausible that the annual inflation figure could resume dropping next month and beyond and maybe at quite a pace, which would warrant a holding, "wait-and-see".
Energy and food are the main perpetrators and therefore at the core of the figures but as real wages are taking a huge hit, that effect must bear out somewhere in the economy and soon.
So, there are opposing forces. We shall soon find out which side of the balance the BoE determines is necessary.

Markets as usual in the opposite direction, great stuff.

Inflation will fall rapidly this year even without rate rises - we are just seeing the delay.

This is the effects of Brexit laid bear, high inflation only in uk why ?

Oh my! Did you really stop to think about it before speaking out or was your urge to jump on the bandwagon of blaming everything on Brexit far too great? For a moment try practising a bit of critical thinking and assess the situation without prejudice. Some Q's to consider:
Is energy, in whatever form, affected by Customs? Is gas inspected at the point of delivery, for instance? Is it more likely that the UK is having to pay more because of its geographical positioning and the lack of gas storage when the proverbial hit the fan, both of which have nothing to do with 'checks'? That situation was so before Brexit as well as now. The lack of a long-term, coherent, energy policy is much more of an explanation and has been an issue for decades. The UK's energy mix is not the same as other countries.
Is it possible that the geography also plays a part in food prices? The UK imports a very high proportion of food. That was the case before Brexit and remains so after Brexit. When food shortages have occurred and the source of those foodstuffs is geographically a long distance from the UK, the long supply and logistics chain makes things more expensive and the suppliers choose to supply the nearest markets first and the more dispersed, more expensive markets later.
Now, there will be some small element of trade barrier effects but it's not the main cause. Geography is unavoidable.
Think on this: just say, as an example, that tariffs are 2%. Just say an item, such as gas, goes up by 10% and then a tariff applies to it, then the resultant increase will be 10.2%. Differences of 2%, not 0.2% will be due to other much more significant factors.
If you think about that and your original assessment, you should feel embarrassed by your thoughtless regurgitation.

First it was Boris, now it will be Sunak the one who starts marching slowly towards the gallows.