UK inflation jumped to its highest level for 10 months in January, according to new official figures. The rate of Consumer Prices Index (CPI) inflation rose to 3% in January from 2.5% in December, the Office for National Statistics (ONS) said.
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00:00Hello, my name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.
00:06UK inflation jumped to its highest level for 10 months in January, according to new figures.
00:12The rate of Consumer Prices Index inflation rose to 3% in January, from 2.5% in December,
00:19according to the Office for National Statistics.
00:22It was higher than predicted by analysts, but forecast a rate of around 2.8%.
00:29The sharp increase will add to pressure on policy makers at the Bank of England
00:33of a way to consider further interest rate cuts in their bid to keep inflation around the 2% target rate.
00:40My name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.