UK inflation rate rises unexpectedly to 3.1 percent

UK inflation rate rises unexpectedly to 3.1 percent

Bank of England Governor Mark Carney will have to write a letter to Britain's Treasury chief explaining why inflation in the country is running by more than a percentage point above target.Official figures Tuesday show that the annual inflation rate in Britain rose to 3.1 percent. The increase was unexpected — most economists predicted a modest decline to 2.9 percent from the previous month's 3 percent.Because inflation is more than a percentage point above the bank's 2 percent target, Carney...