On March 22, 2023, the Office for National Statistics (ONS) released official data indicating that UK inflation had increased in February, marking the first such increase in six months.
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Today the Bank of England voted to raise interest rates by 0.5% to 4% it’s 10th consecutive rise. The raise is hoped to balance inflation which has been higher than forecast in the November Monetary Policy Report.
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Yesterday the ONS (The Office For National Statistics) reported that the UK inflation rate had slowed in November to 10.7%, down from 11.1% in October.
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