Published 03/22/2023 7:10:24 a.m.

UK inflation rate rises to 10.4% in surprise reversal of recent trend

Summary by Ground News

UK inflation unexpectedly jumped up in February to close to its highest level in 40 years amid ongoing pressure on households and businesses in the cost of living crisis.

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Times of India

UK inflation accelerates to 10.4% in February

The Consumer Prices Index (CPI) rose by 10.4 percent in the 12 months to February 2023, up from 10.1 percent in January, the Office for National Statistics said.

03/22/2023 2:32:00 p.m.·India

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BBC News

Veg shortages drive surprise jump in UK inflation

The cost of living rose more than expected in February driven by sharp hikes in food prices.

03/22/2023 7:08:43 a.m.·United Kingdom

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News18 India

UK Inflation Jumps to 10.4%, Surprising Analysts

While economists expect prices to drop rapidly later this year, inflation is more than five times higher than the Bank of England’s 2% target

03/22/2023 8:19:54 a.m.·India

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The Hindu

U.K. inflation jumps to 10.4%, surprising analysts

United Kingdom’s inflation rate rose for the first time in four months in February, surprising analysts and increasing pressure on the Bank of England to raise interest rates at its meeting on March 23.

03/22/2023 7:47:43 a.m.·India

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The Independent

Inflation jumps to 10.4 per cent after falling for three months

Inflation has unexpectedly jumped to 10.4 per cent after dropping for three consecutive months, the Office for National Statistics (ONS) has confirmed. It comes after vegetable shortages pushed food prices to their highest rate in more than 45 years. Many economists were expecting CPI to fall to 9.9 per cent in February. Data indicated that rising prices of drinks in pubs and restaurants also drove inflation higher. Chancellor Jeremy Hunt said: …

03/22/2023 2:39:27 p.m.·London, United Kingdom

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Reuters

UK inflation surprise pressures BoE to raise rates again

British inflation unexpectedly rose to 10.4% in February, pushed up by higher food and drink prices in pubs and restaurants, according to official data which is likely to prompt the Bank of England to raise interest rates on Thursday.

03/22/2023 7:06:45 a.m.·United Kingdom

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