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

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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By Andrew Atkinson, Philip Aldrick, and Lizzy Burden

February 16, 2022 at 2:05 AM EST

Updated on

February 16, 2022 at 3:13 AM EST

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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.