The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index remained unchanged at 0.3% year-on-year in February, missing expectations for a rise to 0.4%.

A rise in food prices offset a drop in the transport sector prices.

On a monthly basis, U.K. consumer prices increased 0.2% in February, missing expectations for a 0.4% gain, after a 0.8% drop in January.

Consumer price inflation excluding food, energy, alcohol and tobacco prices remained unchanged at 1.2% year-on-year in February, in line with expectations.

The Retail Prices Index remained unchanged at 1.3% year-on-year in February, in line with expectations.

The consumer price inflation is below the Bank of England's 2% target.