Shock Jump in UK Inflation Pressures BOE Before Decision
- Food and drink prices are rising at fastest pace in 45 years
- Pound jumps as figures solidify case for further rate rises
The UK’s consumer prices Index rose 10.4% in February.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
UK inflation rose unexpectedly for the first time in four months after food and drink prices soared at the fastest pace in 45 years.
The Consumer Prices Index rose 10.4% in February after a 10.1% gain the month before, the Office for National Statistics said Wednesday. Economists had expected the reading to fall back into single digits.