Inflation across the increased unexpectedly last month as a result of sharp hikes in tobacco and alcohol prices, according to official figures released Wednesday. Economists said it was unlikely to prompt concern at the Bank of England, which recently ended nearly two years of interest rate increases. The Office for National Statistics said inflation, as measured by the consumer prices index, was 4% in December, up from 3.9% the month before, the first increase in 10 months. Most economists had expected the rate to edge lower to 3.8%. Despite the increase, inflation remains sharply lower at the end of 2023 than at the start of last…
