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

8 months ago 33

Increase confounds forecasts of a modest dip and adds pressure on Bank of England to raise interest rates

Live coverage: UK inflation jumps to 10.4% as cost of living crisis intensifies

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.

The Office for National Statistics said annual inflation as measured by the consumer prices index stood at 10.4%, confounding City forecasts for a modest fall to 9.9%.

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