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UK inflation rises to 4.4 pct, above forecast

UK inflation rises to 4.4 pct, above forecast

Official data show consumer price inflation rose to 4.4 percent in February, higher than the market expected and putting more pressure on the Bank of England to raise interest rates.
The Office for National Statistics said Tuesday that increases in the costs of domestic heating and clothing were the main drivers in pushing the rate above January's reading of 4 percent.
The broader retail prices index, which is used in wage negotiations, rose from 5.1 percent to 5.5 percent, again beating market forecasts.
Consumer price inflation has now been 3 percent or higher for 14 months, a full point or more above the government's target of 2 percent.


Updated : 2020-12-06 02:35 GMT+08:00