Rachelle Abbott joins The London Standard’s business editor Jonathan Prynn as the rate of UK inflation jumped to 3% in January, in a blow to hopes of early further interest rate cuts.
The rise on Wednesday exceeded expectations, with City forecasters predicting inflation to be 2.8%.
Who will feel the hit most, what does this mean for interest rates, and when do we expect inflation to fall?.
The Conservatives have accused Chancellor Rachel Reeves of being 'out of her depth'.
So why have we seen such a rise?
.png?trim=33,0,64,0&quality=75&auto=webp&width=1000)
