UK Inflation Surges to 10.4%, Catching Analysts Off Guard.
UK inflation unexpectedly rose to 10.4% in February, breaking a three-month stretch of declines, due to higher food and energy bills. The increase exceeded economists' consensus forecast of 9.9% and will pose a further headache for the Bank of England, which has been hiking interest rates aggressively to rein in inflation. The CPIH rose by 9.2% in the 12 months to February 2023, up from 8.8% in January. The print will add complexity to the task facing central bankers around the world.