Chances of rate cut fall on UK inflation data

Further monetary loosening in Britain looked less likely after factory-gate inflation hit its highest level since 1991.

The Office for National Statistics, a government agency, said on Monday, 11 February, that output prices surged by 1% in January, pushing up the year-on-year total from 5% to 5.7%. The rise reflected increases in other manufactured products.

The core measure of factory-gate inflation - which excludes seasonal and erratic items such as food, drink, tobacco and petroleum - ros