UK CPI rose 0.8% mom in February, above expectation of 0.6% mom. That’s also the largest monthly rise since 2009. On a 12-month basis, CPI surged from 5.5% to 6.2% yoy, above expectation of 5.9% yoy. That’s the highest on record since 1997, and the highest rate is historic modelled series since March 1992. CPI core also rose from 4.4% yoy to 5.2% yoy, above expectation of 4.8% yoy.
Also release, PPI input was at 1.4% mom, 14.6% yoy in February, versus expectation of 1.2% mom, 13.9% yoy. PPI output was at 0.8% mom, 10.1% yoy, versus expectation of 0.7% mom, 10.2% yoy. PPI output core was at 0.7% mom, 9.9% yoy, versus expectation of 0.9% mom, 10.0% yoy.
