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Headline: UK inflation unexpectedly rises to 4.0%

Caption: UK inflation rose unexpectedly to 4.0% in December in the first increase for 10 months, complicating the timing of interest rate cuts from the Bank of England this year. The Office for National Statistics said annual inflation as measured by the consumer prices index went up from the 3.9% reading in November, confounding City economists’ forecasts of a modest decline to 3.8%.

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