British Inflation Jumps

Wednesday, 23 March 2011 02:11

British inflation jumped in February by 0.4% from 4.0% to 4.4%, more abruptly than anticipated, as the Pound reached a new year high against the USD at 1.6387. 

GBP/USD is currently trading at 1.6275

There is general disturbance that inflation may hit more than 5% in the coming months as oil prices are increasing.