U.K. CPI climbs by a stronger-than-expected 10.4% in February


U.K. consumer prices jumped 10.4% in February, from a 10.1% rise in January, the National Statistics Office reported Wednesday. The increase was higher than the 9.8% expected by a consensus of economists polled by FactSet Research. The Consumer Price Index including owner occupiers’ housing costs (CPIH) rose by 9.2% in the 12 months to Feb 2023, up from 8.8% in Jan 2022. The fresh jump in prices comes a day ahead of a decision by the Bank of England’s Monetary Policy Committee. The British pound GBPUSD, +0.46% jumped on the data, last up 0.4% to $1.2261.

This article was originally published by Marketwatch.com. Read the original article here.

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