UK inflation sets up a marathon for BoE

From fxpro.news

UK inflation has come in slightly weaker than expected, but this does not significantly bring the rate cut date any nearer. The CPI rose by 0.6% in February after a similar fall in January. Annual inflation slowed to 3.4% from 4.0%, vs expected 3.5%. Core CPI slowed its rise to 4.5% y/y in February after three months of stabilising at 5.1%. Rising prices for services are driving core inflation. This is a very sluggish component, making it a marathon rather than a sprint for the Bank of England. Input Producer prices fell 0.4% in February and are down 2.7% y/y. The index has retreated to May 2022 levels thanks to ... (full story)