Inflation to rise to 4% by the end of 2021
Covering the major EM economies in Central Europe and the Middle East
Increase from 2.1% puts pressure on the Bank of England
12-month rate of 5.4% beats market expectation of 4.9%.
Still second-highest monthly borrowing on record
Two rate hikes now expected in 2023
Beating analysts' expectations
Driven by rising household utility, clothing, and motor fuel prices