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UK Consumer Prices Rise Unexpectedly in December, Delaying Rate Cut Plans at Bank of England

UK consumer prices rise unexpectedly in December, delaying rate cut plans at the Bank of England. Inflation jumps to 4.0% YoY, driven by new taxes on tobacco products. Core inflation remains high at 5.1%. The unexpected rise may impact monetary policy and raise concerns about consumer spending and economic growth. Brexit and global economic concerns add to the challenges faced by the UK economy. Market participants closely watch future inflation readings and their impact on monetary policy decisions.

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