British Inflation Higher: The British government said...

British Inflation Higher: The British government said inflation rose to a 6 1/2-year high in February but promised that it would fall later in the year. The Employment Department said more expensive home loans and higher gasoline prices helped push the retail price index in February to an annual growth rate of 7.8% from 7.5% in January. Britain has one of the highest inflation rates in the industrialized world. The February rate was Britain’s highest since August, 1982, when it stood at 8%.