{"id":1902651,"date":"2023-03-22T06:57:02","date_gmt":"2023-03-22T10:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-inflation-surprise-pressures-boe-to-raise-rates-again\/"},"modified":"2023-03-22T06:58:21","modified_gmt":"2023-03-22T10:58:21","slug":"uk-inflation-surprise-pressures-boe-to-raise-rates-again","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-inflation-surprise-pressures-boe-to-raise-rates-again\/","title":{"rendered":"UK inflation surprise pressures BoE to raise rates again"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fuk-inflation-surprise-pressures-boe-to-raise-rates-again%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1902651&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <br \/>\n<?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"entry-content\">\n<p>According to official data, British inflation unexpectedly rose to 10.4% in February, which is likely to prompt the Bank of England to increase interest rates on Thursday. Economists polled by Reuters had earlier forecast that the annual consumer price inflation rate would drop to 9.9% in February from January\u2019s 10.1%. However, with the increase in inflation measures that the BoE closely monitors for, it is likely to bolster the concerns of those BoE policymakers who worry that inflation will be slow to fall, even after 10 straight rate hikes. <\/p>\n<p>Investors had been unsure whether the central bank would pause after the recent unrest in the global banking sector. Despite the uncertainty, financial markets have fully priced in the quarter-point increase to 4.25% for the interest rates. The senior economist at HSBC, Liz Martins, said that &#8220;this inflation outturn would appear to swing it in favour of a 25-basis-point hike.&#8221;<\/p>\n<p>The data revealed that price increases in food and drinks in pubs and restaurants were the biggest contributors to the inflation rate increase in February. The ONS also reported an end to January drinks promotions in pubs and restaurants as the largest factor behind the rise. An overall inflation for food and non-alcoholic drinks rose to 18.0%, the highest since 1977, reflecting cold weather in Southern Europe and North Africa. <\/p>\n<p>Furthermore, the annual inflation in the service sector, which is considered by most policymakers to be a good measure of underlying price pressures in the economy, rose to 6.6% from 6.0% in January.<\/p>\n<p>Last month, the BoE had forecast headline inflation would drop below 4% by the end of 2023 and be beneath its 2% target from mid-2024 onwards, with energy prices no longer rising steeply. The government\u2019s Office for Budget Responsibility forecast last week that inflation would fall below 3% by the end of 2023. <\/p>\n<p>Finance minister Jeremy Hunt said that the data showed the expected decline in inflation could not be taken for granted, and it wasn&#8217;t inevitable, so the government must stick to its plan to halve it this year. <\/p>\n<p>Overall, this increase in inflation may prompt the BoE to raise interest rates for the eleventh consecutive time, despite debates on whether the central bank should pause the run after recent global banking upheaval. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Freshman Missouri Republican congressman Mark Alford is one of the rising stars in the House Republican conference. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>House Speaker Kevin McCarthy hosted a panel at the annual GOP policy retreat. One America\u2019s Stephanie Myers has the details.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>More colleges and universities are pushing diversity, equity and inclusion.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>In what should be a clear violation of the Constitution and the First Amendment, Democrat senators and congressmen have been caught colluding with big tech to censor One America News.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Upasana Singh and Navya Mittal (Reuters) \u2013 Shares of Latitude Group Holdings slumped to their all-time low on Wednesday after the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>MOSCOW (Reuters) \u2013 Russian e-commerce firm Ozon said on Wednesday it was appealing the Nasdaq stock exchange\u2019s plan to delist its securities\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Stephen Nellis (Reuters) \u2013 Computing networking pioneer Bob Metcalfe on Wednesday won the industry\u2019s most prestigious prize for the invention of\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Josh Ye (Reuters) -Tencent Holdings reported a drop in annual revenue for the first time ever, as China\u2019s economic slowdown due\u2026 <\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>From <a href=\"https:\/\/www.oann.com\/business\/uk-inflation-surprise-pressures\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=uk-inflation-surprise-pressures\">&#8220;UK inflation surprise pressures BoE to raise rates again&#8221;<\/a><\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By David Milliken and William Schomberg LONDON (Reuters) \u2013 British inflation unexpectedly rose to 10.4% in February, pushed up by higher food and drink prices in pubs and restaurants, according to official data which is likely to prompt the Bank of England to raise interest rates on Thursday. Economists polled by Reuters had forecast that<\/p>\n","protected":false},"author":66,"featured_media":1902652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[22431,5708,17219,5283,6009,14728],"class_list":["post-1902651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-boe","tag-inflation","tag-pressures","tag-raise","tag-rates","tag-surprise"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1902651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1902651"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1902651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1902652"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1902651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1902651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1902651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}