Salem Radio Network News Saturday, June 10, 2023


UK inflation jumps to 10.4%, surprising analysts


( ) -q-22- UNDATED (Correspondent Jeremy House) “squeeze household budgets.”

Britain’s inflation rate has risen for the first time in four months in February.

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TAG: Correspondent Jeremy House reporting. Economists expect prices to drop rapidly later this year. But inflation is more than five times higher than the Bank of England’s 2% target.

VERBATIM: The new figures surprised analysts and increased pressure on the Bank of England to raise interest rates at its meeting on Thursday. The consumer price index jumped to 10.4% in the 12 months through February from 10.1% the previous month. The Office for National Statistics says high energy prices continued to squeeze household budgets.

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