UK inflation beats expectations in February
According to data from Britain’s Office for National Statistics (ONS), the country’s CPI rose 1.1 percent in February from the previous month and 10.4 percent on an annual basis. In January, the annual rate was 10.1 percent.
The CPI was expected to increase 0.6 percent monthly and 9.9 percent annually in February.
In the ONS statement, it was indicated that the increases in the prices of natural gas, electricity and household fuels in February were effective over inflation.
In the statement, which specifies that the increase in the prices of alcoholic and non-alcoholic products in the country reached the highest rate in the last 45 years, starting in February, the harsh weather conditions and heavy rains in Europe seriously hampered the importation of fresh vegetables and fruit to England, and this situation led to the food crisis, which was said to increase the prices of fresh food in the markets. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
