UK inflation jumps more than expected in January, testing the BoE’s outlook

British inflation sped up by more than expected to hit a 10-month high of 3 per cent in January and is likely to rise further soon, testing the Bank of England’s confidence that price pressures will ease over the longer term.

The BoE and economists polled by Reuters had expected inflation to rise by less, to 2.8 per cent, after December’s reading of 2.5 per cent.

The Office for National