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Inflation in Britain soars -- ONA

LONDON, March 22 (KUNA) -- Inflation in the United Kingdom, based on the consumer price index, soared from 0.3 percent in February to 10.4 percent, according to latest data released by the Office for National Statistics (ONA).
ONA affirmed that prices of food, clothes, leisure services, hotels and restaurants have posted record hikes. Since start of the year, rates of food and beverages climbed from 16.8 percent to 18.2 percent last month. Those of the clothes climbed from six percent to 8.2 percent and the rates of the hotels from 10.8 percent to 12.1 percent.
The data showed that food prices have reached the highest level since mid 90s in the past century.
Financial markets have been anticipating a decision by the Central Bank of England to increase or cut interest rate.
Last month, the central bank increased the interest rate to four percent. (end) mrn.rk