UK saw an increase of 10.4% in inflation in February due to high energy and food prices

Posted on March 27, 2023   |  

In February, for the 1st time in 4 months, inflation in the UK grew due to high food and energy prices; the consumer price index grew by 10.4% in the 12 months through February from 10.1% the previous month.

As a result, these figures pressured the Bank of England to increase interest rates for the 11th straight time, regardless of worries about the economic impact of strains on the global banking system.