NEWS STORY : Consumer Price Inflation Rises to 10.4%
STORY
ONS figures released today have shown that consumer price inflation has risen to 10.4% for the year ended February 2023, an increase of 0.3% from the January 2023 figures. The figures were higher than the markets expected and they may put pressure on the Bank of England to increase interest rates at their policy meeting to be held on 23 March 2023.
A spokesperson for the ONS said:
“The largest upward contributions to the monthly change in both the CPIH and CPI rates came from restaurants and cafes, food, and clothing, partially offset by downward contributions from recreational and cultural goods and services (particularly recording media), and motor fuels”.
RESOURCES
ONS – Press Release and Data (in .pdf format)
EXTERNAL NEWS LINKS
