UK CPI climbed to 4.4% in the year ending February, exceeding both median forecasts and the preceding readings of 4.2% and 4.0% respectively. On the monthly basis, the reading also rose to 0.7%, above the estimated 0.6% and the prior 0.1%. Annual core CPI inclined to 3.4% from the previous 3.0% and compared to the predicted 3.1%.

Moreover, the cost of living index, RPI, surged 5.5% annually in February compared with the prior 5.1% and market expectations of 5.2%. On the month, the reading jumped to 1.0% from the previous 0.3%, to exceed analysts' estimates of 0.7%. With regard the annual reading excluding mortgage interest payments, it also soared to 5.5%, higher than the previous 5.1% and forecasts of 5.2%.