Britain’s inflation rate rose for the first time in four months in February, surprising analysts and increasing pressure on the Bank of England to raise interest rates at its meeting on Thursday.
The consumer price index jumped to 10.4% in the 12 months through February from 10.1% the previous month, as high energy prices continued to squeeze household budgets, the Office for National Statistics said Wednesday.
While economists expect prices to drop rapidly later this year, inflation is more than five times higher than the Bank of England’s 2% target.
