Pursuits
U.K. Inflation Rate Rises Less Than Expected, Stays Below 2%
- Input costs rise most since 2008 as oil prices surge
- BOE forecasts pickup in consumer-price growth this year
A shopper checks her mobile phone as she stands on an escalator at the Westfield Stratford City shopping mall in London, U.K., on Thursday, Dec. 27, 2012.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
U.K. inflation picked up less than economists forecast in January as clothing-store discounts kept the rate from reaching the Bank of England’s target.
The increase in the rate to 1.8 percent from 1.6 percent in December fell short of the 1.9 percent estimated in a Bloomberg survey. The pound weakened and traders pared bets on a Bank of England interest-rate hike by the end of 2017.