Surprise rise for UK inflation seen

UK - UK inflation has risen higher than expected, casting doubt on the need for another interest rate cut.

The annual underlying rate of inflation rose by half a percentage point last month to 2%, official figures showed on Tuesday.

But it was still well below the Bank of England's target rate of 2.5%, with 1% leeway either way.

The headline rate of inflation, which includes mortgage interest payments, also rose half a percentage point to 1.5%, the Office for National Statistics (ONS) said.

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