UK inflation rises for first time in five months to 3.4% in December
The Guardian – World —
Increase in annual rate suggests Bank of England will keep interest rates on hold in FebruaryInflation in the UK has risen for the first time in five months to 3.4% in December, according to official figures, suggesting the Bank of England will hold off from making a change to interest rates next month.The Office for National Statistics said the annual inflation rate, as measured by the consumer prices index (CPI), increased from 3.2% in November, after falling in October and flatlining in the previous three months. The figure overshot City economists’s forecasts of a modest rise to 3.3%. Continue reading...