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UK inflation rate unexpectedly rises to 10.4% in Feb

Adel 22 March, 2023 12:30 pm Forex Market, Market Update

British inflation unexpectedly rose to 10.4% in February, pushed up by higher food prices and pricier drinks in pubs and restaurants, official data showed on Wednesday, a day before the Bank of England announces its latest interest rate decision.

Economists polled by Reuters had forecast that the annual CPI rate would drop to 9.9% in February from January’s 10.1% and move further away from October’s 41-year high of 11.1%.

The BoE is due to announce on Thursday whether it has raised interest rates for an 11th meeting in a row.

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