Expectations had been for a big jump going into this morning’s release of December UK inflation statistics, however expectations still weren’t high enough. The year-on-year CPI inflation rate surged from +1.9% to +2.9%, eclipsing the average forecast of 2.6% (economic forecasts varied from as low as +1.9% to +2.8%). This marked the biggest jump in UK CPI since April 1991.
Why the big jump? W…Read the article