UK inflation jumps to 10-month high of 3%

Yorkshire Post

UK inflation jumped to its highest level for 10 months in January, according to new official figures. The rate of Consumer Prices Index (CPI) inflation rose to 3% in January from 2.5% in December, the Office for National Statistics (ONS) said.  #inflation

Transcript

00:00Hello, my name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.

00:06UK inflation jumped to its highest level for 10 months in January, according to new figures.

00:12The rate of Consumer Prices Index inflation rose to 3% in January, from 2.5% in December,

00:19according to the Office for National Statistics.

00:22It was higher than predicted by analysts, but forecast a rate of around 2.8%.

00:29The sharp increase will add to pressure on policy makers at the Bank of England

00:33of a way to consider further interest rate cuts in their bid to keep inflation around the 2% target rate.

00:40My name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.

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