- Nov 4, 2011
UK Inflation Rate Rises Again, hitting 10.4 percent in Februaryby Martin Armstrong,
Mar 22, 2023
UK inflation (CPI) hit 10.4 percent in February, 0.5 points higher than forecast and the seventh time the measure has been in double digits since the summer. After modest decreases each month since November, the jump upwards of 0.3 points in February came as somewhat of a shock. The chances of Thursday's interest rate revision being a rise are now very high.
According to the ONS, the latest increase "mainly reflected price rises in the restaurants and hotels, food and non-alcoholic beverages, and clothing and footwear divisions. These were partially offset by downward effects coming from recreation and culture, and from motor fuels within the transport division."
Infographic: UK Inflation Rate Rises Again
This chart shows the CPI 12-month inflation rate in the UK from 2012 to 2022. UK interest rate rise