Commenting on the latest figures, Danske Bank Chief Economist Conor Lambe said:
“UK inflation increased slightly to 1.9 per cent in February, which was the first increase since last August. But, despite the rise, inflation remained below the Bank of England’s 2 per cent target for the second month in succession.
“Looking beyond the headline figure and at the different categories of goods and services, the largest price rises were for alcohol and tobacco and in the communication category which includes postal services, mobile phones and internet subscriptions.
“There were also quite strong price rises within the transport category, for example the price of new cars increased by 5 per cent over the year to February, and for recreational activities.
“The one category in which prices fell over the year was clothing and footwear. This was the sixth consecutive month in which the price of clothes and shoes decreased.
“The latest labour market data showed that wages for employees in Great Britain increased by 3.4 per cent over the year to November – January. So, despite the small rise in inflation, the rate of real wage growth remains firmly in positive territory, as it has been for some months now.”
This comment was published in response to the February 2019 UK inflation data published by the ONS on 20 March 2019.