Today news
About the same in other media
UK inflation surges to a 10-year high of 4.2% in October, bolstering the case for Bank of England to hike rates
Reading now: 807
markets.businessinsider.comKarwai Tang/Getty Images
British inflation surged to a 10-year high last month, as household energy bills rocketed, according to data on Wednesday that will bolster expectations that the Bank of England will raise interest rates next month.
Consumer prices rose by 4.2% in annual terms in October, leaping from a 3.1% increase in September. Both the BoE and a Reuters poll of economists — none of whom had predicted such a big increase — had pointed to a reading of 3.9%.
«Today's inflation data will reinforce the Bank of England's resolve to act,» Yael Selfin, chief economist at KPMG UK, said.
The Office for National Statistics said household energy bills were the biggest driver of inflation following the lifting of a regulatory cap on bills last
Read more on markets.businessinsider.comAbout this in other media
UK's chances of Christmas restrictions and 'Plan B' latest as Europe rocked by Covid surge manchestereveningnews.co.uk /3 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
