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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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.