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Inflation in biggest monthly rise since 2012

Mar 21, 2017 - Investment Adviser

Inflation has broken through the Bank of England's (BoE) 2 per cent target following the largest month-on-month rise since October 2012.

The Consumer Prices Index (CPI) rose to 2.3 per cent in February from 1.8 per cent a month earlier. The last time inflation jumped as much was between September and October 2012.

The figure was also above the consensus expectation of 2.1 per cent - with the largest surprise being a rise in core inflation, which rose from 1.6 per cent to 2 per cent.

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