LONDON: UK inflation accelerated more than economists forecast in February, breaking through the Bank of England’s (BoE) target for the first time in more than three years.
The 2.3% increase in the consumer prices index was the fastest since September 2013 and above the median prediction for 2.1%. The rate is up from just 0.3% a year ago, reflecting sterling’s 17% drop since the Brexit vote in June, as well as an increase in oil prices.
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