Shock rise in inflation cools hopes of early interest rate cut
Inflation has increased unexpectedly for the first time in nearly a year after alcohol and tobacco price hikes, dampening hopes of an early interest rate cut by the Bank of England.
Figures from the (ONS) showed the rate of Consumer Prices Index (CPI) inflation rose to 4% in December, up from 3.9% in November – marking the first increase since February last
