Inflation in Britain hits 3.1 percent in March

Britain's consumer price inflation rose to 3.1 percent in March, which is over one percentage point above the 2percent target of the government.

Meanwhile, Pound Sterling soared on currency markets on Monday, briefly passing through the 2-dollar threshold, the British Broadcasting Corporation (BBC) reported on Tuesday.

Analysts believe the figures could lead to a further rise in Britain's interest rates, which had been raised by the Bank of England three times since August last year in an effort to curb inflation.

The Bank of England earlier this month kept the rates at 5.25 percent, but many analysts are expecting the bank to lift rates again in May.

The rise of the Consumer Prices Index (CPI) in March driven by the price increases of milk, petrol and furniture, lifted the annual rate of CPI inflation from 2.8 percent in February to 3.1 percent, the highest since the series began in January 1997.

Source: Xinhua