UK consumer price inflation unexpectedly accelerated in February after slowing for three straight months, adding to the dilemma of the Bank of England policymakers who are set to decide this week whether to raise interest rates this month in the backdrop of the financial market turmoil.
Consumer prices increased 10.4 percent annually in February after a 10.1 percent gain in January, the Office for National Statistics reported Wednesday. Inflation was forecast to slow to 9.9 percent.
Headline inflation had peaked at 11.1 percent in October 2022 to mark the highest level since 1981.
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by Renju Jaya
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