Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK inflation surged to an annual rate of 7.0% last month, the highest since March 1992, the Office for National Statistics said Wednesday, exceeding the 6.7% forecast by City analysts. That tops the 6.2% pace recorded in January and now sits far in excess of the Bank of England's 2% target.
Surging fuel costs accounted for 0.25 percentage points of the change in CPI, but seven of the other major sub categories also exerted upward pressure, with no significant downward influences. Excluding food and energy, core CPI rose to 5.7% in March from 5.2% a month earlier, well above expectations of a 5.3% rise.
That’s the fastest pace since the series began in January of 1997, although core inflation hit higher levels in 1992, according to a reconstructed series. RPI rose by an annual 9.0%, the fastest pace since January 1991.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.