There has also been a marked effect on inflation in the UK and other countries from higher global oil prices. A dip in petrol and diesel prices last month also tempered the pressure on inflation. Whisky and beer prices rose and cigarettes also played a role in keeping inflation high last month. UK inflation stays at three-year high of 2.3% Read more“But we don’t think that that will panic the MPC into raising rates imminently. Economists expect average pay growth was 2.2% in the three months to February compared with a year earlier, according to a Reuters poll.

Source: The Guardian April 11, 2017 10:42 UTC