Consumer price index rate rises to 4.0%, confounding forecasts of modest fall
UK inflation unexpectedly rose to 4.0% in December, complicating predictions for the Bank of England to begin cutting interest rates.
The Office for National Statistics said annual inflation as measured by the consumer prices index (CPI) rose from the 3.9% reading in November, halting a period of recent sharp declines. City economists had forecast a modest decline to 3.8%.
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