Article 6HXG2 UK inflation unexpectedly rises as cost of tobacco and alcohol increases

UK inflation unexpectedly rises as cost of tobacco and alcohol increases

by
Richard Partington Economics correspondent Phillip
from on (#6HXG2)

Surprise uptick to 4.0% complicates forecasts of interest rate cut, while FTSE slumps 1.5%

UK inflation rose unexpectedly to 4.0% in December in the first increase for 10 months, complicating the timing of interest rate cuts from the Bank of England this year.

Shares on the FTSE 100 slumped 1.5% to register the worst daily fall since last August as investors bet that interest rates would be cut more slowly this year by the Bank of England than previously forecast.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/business/economics/rss
Feed Title
Feed Link http://feeds.theguardian.com/
Reply 0 comments