British Feb. annual inflation jumps to 4.4% *PIC*
British Feb. annual inflation jumps to 4.4% ( GBPUSD ) (by William L. Watts)
LONDON (MarketWatch) -- British consumer prices saw a 0.7% monthly rise in February, pushing the annual inflation rate to 4.4%, the Office for National Statistics reported Tuesday. Annual inflation was 4% in January. Economists had forecast a 0.6% monthly rise and a 4.3% year-on-year increase. The rise pushes the annual inflation rate further above the Bank of England's medium-term target of 2%. The British pound (cur_gbpusd) extended a gain versus the U.S. dollar to trade at $1.6359, up 0.3% from Monday.