"There seems to be a little bit of payback from the previous couple of months' brisker growth"
- Philip Rush, an economist at Nomura International Plc
U.K. inflation accelerated in March for the first time in half a year, driven by higher food prices. Consumer prices increased 3.5 per cent, compared to the same period last year, said the European Statistical Office on Tuesday.
"There seems to be a little bit of payback from the previous couple of months' brisker growth," said Philip Rush, an economist at Nomura International Plc in London.
"I don't think the MPC will be particularly happy to see inflation moving further north of their target, but at the same time, I don't think they'll be overly concerned about that. I don't think the surprise is enough to really influence the QE debate."
U.K. stocks rose on Tuesday. The benchmark FTSE 100 index increased 1.78%, or 100.67 points, to 5,766.95. The FTSE All-Share Index climbed 1.71%, or 50.29 points, to 2,997.65.
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