Core inflation is rising in the U.K. while falling in other big economies like the U.S. WSJ’s Anna Hirtenstein explains why, and how it affects Prime Minister Rishi Sunak’s goal of halving inflation by the end of 2023. Illustration: Daniel Orton/WSJLONDON—The Bank of England on Thursday raised its key interest rate for the 14th time in a row, and said it may do so again as it tries to cool the fastest rise in consumer prices in the Group of Seven advanced democracies.

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Persons: WSJ’s Anna Hirtenstein, Rishi Sunak’s, Daniel Orton Organizations: Bank of England, Seven Locations: U.S