UK inflation rises beyond expectation before Sunak's Spring Statement

The Office for National Statistics report stated that on a monthly basis, CPI inflation rose 0.8%, exceeding expectations for a 0.6% rise and representing the largest monthly CPI increase between January and February since 2009.  The latest statistics come on the morning of the UK chancellor Rishi Sunak's Spring Statement where investors and consumers will be awaiting for news from the Treausry and its intentions to battle rising inflation. The largest changes came from an 11.5% increase in transport, where fuel prices have continued to rise, and in the housing and household services ...