UK inflation - latest: Rate takes surprise jump as public finance outlook 'still bleak'

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Inflation rose unexpectedly in February to 10.4% as food and drink prices drove the rise again, the Office for National Statistics.

The latest Consumer Price Index rate rose from 10.1% in January, reversing the downward trend of recent months. Most economists expected the CPI to fall to 9.9% in February.

Economists said ahead of the announcement that the outlook for government finances remains "still quite bleak" despite improved forecasts from Britain's fiscal watchdog.

A panel of experts has told Parliament's Treasury Committee that households face a 'two-year standard of living pressure' due to rising energy bills and tax hikes.

The Office of Budget Accountability...