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Economics

U.K. Inflation Overshoot Adds to Brutal Cost of Living Squeeze

  • Prices rose more than forecast as retailers limited discounts
  • Highest inflation in 30 years adds pressure for BOE rate hike
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WATCH: U.K. inflation unexpectedly accelerated once again, piling pressure on the BOE to deliver an aggressive interest rate increase.Source: Bloomberg
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U.K. inflation unexpectedly accelerated for a fourth straight month in January, highlighting a cost-of-living crisis that’s set to worsen dramatically this year.