U.K. Inflation Jumps to Highest Rate in 30 Years

U.K. CPI data for December beat forecasts, confirming a surge in inflation to 5.4%. That is the highest rate since 1992. The Bank of England Governor Andrew Bailey will be grilled by MPs as cost increases combined with labor shortages continue to add to pressure on the central bank to rein in price growth. Bloomberg’s Lizzy Burden reports on “Bloomberg Markets: Europe.”