Inflation jumps to 10 month high knocking chance of early interest rate cut
UK inflation jumped more sharply than expected at the start of the year, posing a dilemma for the Bank of England as it considers further interest rate cuts amid weak economic growth. The Office for National Statistics (ONS) said on Wednesday that Consumer Prices Index (CPI) inflation rose to 3% in January from 2.5% in December. This marks the highest reading since March last year. Plane fares, rising food costs […]