Bank rate set to remain on hold despite fresh rise in inflation
UK inflation spiked in December, figures published on Tuesday revealed, setting the scene for renewed criticism of the Bank of England.
Data released by the Office for National Statistics showed annual consumer price inflation ticked up 0.4 percentage points from November to December to hit 3.7% – higher than most analysts had forecast. The bureau pointed to price pressures in air transport, fuels and lubricants, gas and food.
Petrol and diesel prices proved problematic, with a 2.8% increase
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