UK inflation surges to 2.1%, unexpectedly passing BoE goal

Consumer prices rose 2.1% from a year earlier, the highest since July 2019, the Office for National Statistics (ONS) said. Economists and the BoE had expected an increase of 1.8%. Core inflation jumped to 2%, the most since August 2018.

LONDON: UK inflation surged unexpectedly past the Bank of England’s (BoE) target for the first time in almost two years, an increase that will add to speculation about when monetary policy could be tightened.

Consumer prices rose 2.1% from a year earlier, the highest since July 2019, the Office for National Statistics (ONS) said. Economists and the BoE had expected an increase of 1.8%. Core inflation jumped to 2%, the most since August 2018.