UK inflation rises to 3.4%, the first increase in five months

Paul Dales, chief UK economist at Capital Economics, said: “The later-than-usual budget [on November 26] meant that the rise in tobacco duties were only captured in the ONS’s December survey.”

Paul Dales, at the consultancy Capital Economics, said that since May, the average monthly value of the UK’s goods exports to the US had fallen by £0.75bn, or 13 per cent compared with the year before...

Paul Dales, an economist at Capital Economics, said he expected inflation would fall to 2 per cent in April and prompt the MPC to reduce rates to 3 per cent this year. “Trump’s threatened tariffs add...