LONDON
,
March 20, 2024
(press release)
–
Price indices, percentage changes, and weights for the different measures of consumer price inflation.
Main points
- The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 3.8% in the 12 months to February 2024, down from 4.2% in January.
- On a monthly basis, CPIH rose by 0.6% in February 2024, compared with a rise of 1.0% in February 2023.
- The Consumer Prices Index (CPI) rose by 3.4% in the 12 months to February 2024, down from 4.0% in January.
- On a monthly basis, CPI rose by 0.6% in February 2024, compared with a rise of 1.1% in February 2023.
- The largest downward contributions to the monthly change in both CPIH and CPI annual rates came from food, and restaurants and cafes, while the largest upward contributions came from housing and household services, and motor fuels.
- Core CPIH (excluding energy, food, alcohol and tobacco) rose by 4.8% in the 12 months to February 2024, down from 5.1% in January; the CPIH goods annual rate slowed from 1.8% to 1.1%, while the CPIH services annual rate eased slightly from 6.1% to 6.0%.
- Core CPI (excluding energy, food, alcohol and tobacco) rose by 4.5% in the 12 months to February 2024, down from 5.1% in January; the CPI goods annual rate slowed from 1.8% to 1.1%, while the CPI services annual rate eased from 6.5% to 6.1%.
- In line with usual practice at the start of each year, the basket of goods and services, and expenditure weights used in compiling our consumer price inflation statistics have been updated.
- This release is the first publication to include improved data from February 2024 on second-hand cars and private rental prices as part of our programme to transform consumer price statistics.
Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.
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