FX.co ★ UK RPI Inflation Eases to 3.6% in February, Extending Downward Drift

The United Kingdom’s Retail Price Index (RPI) inflation rate eased to 3.6% year-on-year in February 2026, down from 3.8% in January 2026, according to data updated on 25 March 2026. The figure reflects a continued moderation in price pressures when comparing each month to its level a year earlier.

Both the current and previous readings are calculated on a year-over-year basis, with the February 2026 rate measuring changes relative to February 2025 and the January 2026 rate relative to January 2025. The slight decline in RPI suggests a gradual cooling in consumer price growth, a development closely watched by markets and policymakers given RPI’s role in index-linked bonds, some wage agreements, and regulated prices in the UK.