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
-
Fuel Economy Gains in July
What you’re looking at here is a sales-weighted fuel economy chart (the numbers in the white boxes represent miles per gallon) that was put together by two diligent researchers, Michael Sivak and Brandon Schoettle, of the University of Michigan Transportation Research Institute.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.