Surprise uptick to 4.0% complicates forecasts that Bank of England will cut interest rates
UK inflation unexpectedly rose to 4.0% in December, complicating predictions for the Bank of England to begin cutting interest rates.
The Office for National Statistics said annual inflation as measured by the consumer prices index (CPI) rose from the 3.9% reading in November, halting a period of recent declines. City economists had forecast a modest fall to 3.8%.
Continue reading…Surprise uptick to 4.0% complicates forecasts that Bank of England will cut interest ratesUK inflation unexpectedly rose to 4.0% in December, complicating predictions for the Bank of England to begin cutting interest rates.The Office for National Statistics said annual inflation as measured by the consumer prices index (CPI) rose from the 3.9% reading in November, halting a period of recent declines. City economists had forecast a modest fall to 3.8%. Continue reading…