UK annualized CPI misses estimates with 0.4% in Feb, GBP/USD keeps 1.3700

• UK CPI rises 0.4% YoY in Feb vs. +0.8% expected.
• Monthly UK CPI arrives at +0.1% in Feb vs. +0.5% expected.
• GBP/USD remains unfazed by the downbeat data but defends 1.3700.

The UK Consumer Prices Index (CPI) 12-month rate came in at +0.4% in February when compared to +0.7% booked in January while missing expectations of a +0.8% print, the UK Office for National Statistics (ONS) reported on Wednesday. 

Meanwhile, the core inflation gauge (excluding volatile food and energy items) dropped to +0.9% YoY last month versus +1.4% booked in January, missing the consensus forecast of +1.4% by a big margin.

The monthly figures showed that the UK consumer prices arrived at +0.1% in February vs. +0.5% expectations and -0.2% prior.

more to come ...