Price pressure remains at a very high level.
(Photo: AP)
London In Great Britain, inflation picked up again in February. Compared to the same month last year, consumer prices increased by 10.4 percent, as the statistics office ONS announced on Wednesday in London. On the other hand, analysts had expected a decline from 10.1 percent in January to 9.9 percent on average.
In financial markets, the British pound edged higher after the data as the new data strengthened expectations of more rate hikes by the Bank of England (BoE) in the future. Last October, inflation rose to its highest level in more than four decades at 11.1 percent. Since then, inflation has fallen slightly.
The ONS attributes the fact that it is now increasing again primarily to rising prices for restaurant visits, food and clothing. On the other hand, slight relief comes from the areas of leisure and culture as well as from fuel prices.