Mexican Media Brands
Inflation in U.K. Jumps to 2.3%
The annualized inflation rate in the U.K. surged to 2.3% last month from 1.8% in January, the Office for National Statistics reports.
#economics
Share
The annualized inflation rate in the U.K. surged to 2.3% last month from 1.8% in January, the Office for National Statistics reports.
More than one-third of the spike was caused by oil costs, which are priced in U.S. dollars against England’s weakening pound sterling. But food prices also climbed by 0.3 points, their first increase in nearly three years.
The Bank of England previously predicted inflation in the U.K. will peak at 2.8%. But BBC News says some economists believe the rate will top 3% by then. The central bank, which targets 2% growth, opted last week not to increase interest rates—a move that would help control inflation.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future