FX.co ★ UK Core RPI Rebounds in February, Snapping January’s Decline

The United Kingdom’s core Retail Price Index (RPI) moved back into positive territory in February 2026, rising 0.4% month-over-month after a 0.5% decline in January. The data, updated on 25 March 2026, indicate a notable shift in underlying price pressures compared with the previous month.

In January 2026, core RPI had fallen by 0.5% versus December, but February’s 0.4% increase suggests that disinflationary momentum may have eased at the start of the year. The month‑over‑month comparison highlights how the latest reading contrasts with the prior downturn in prices, with “actual” February data measured against January, and January’s “previous” figure measured against December.

The return to positive month‑on‑month core RPI will be closely watched by market participants for signals on the trajectory of underlying inflation as the year progresses, given its role in shaping expectations for UK monetary and financial conditions.