Bigger than forecast rise probably temporary but analysts rule out Bank of England interest rate cut in FebruaryDavos live – latest updatesInflation in the UK rose for the first time in five months to 3.4% in December, pushed up by higher air fares and tobacco prices.The Office for National Statistics (ONS) said the annual inflation rate increased from 3.2% in November after falling in October and flatlining in the previous three months. The figure overshot City economists’s forecasts of a modest rise to 3.3%. Continue reading...