Bump Eyes! UK Inflation Rises Again


 The situation seems to be getting tougher for the Bank of England (BOE) which has recently offered hints to stop its cycle of interest rate hikes.

The latest figures in UK consumer inflation will leave Governor Andrew Bailey with a 'headache' to decide the direction of the BOE's next policy.

Most recently, data from the Office for National Statistics (ONS) reported that the UK's annual consumer price index (CPI) is back on the rise after 3 consecutive months of falls.

CPI rose 10.4% year-on-year in February compared to 10.1% recorded in January, and far missed expectations for a drop to 9.9%.

Meanwhile, core inflation (excluding food and energy prices) also rose to 6.2% year-on-year from 5.9% previously, and missed expectations of 5.7%.

British households continue to face high food and energy bills, while workers from various sectors have launched massive strike action in recent months over pay disputes.

This latest post is likely to influence the BOE's policy decision due to meet tomorrow (Thursday), where it was previously expected to raise rates by 25 basis points.