U.K. February BRC shop prices rose 1.2% m/m and annual price growth accelerated to 1.9% from 1.1% in January. The BRC quoted rising food prices as the cause behind the price pick-up, likely to have been partly driven by import prices. Non-food prices fell 1.7% y/y, versus a 2.1% y/y drop in January. Hence, further evidence of stickiness for U.K. inflation. CPI is expected to come down sharply this year, but over the past few month, inflation figures have not decelerated as quickly as market players have expected.