UK Inflation Rises to 3.5%, Boosting Bets on Interest Rate Hike

UK inflation rose to 3.5% in September from 3.1% in August, exceeding expectations and hitting an 11-month high, driven by higher fuel costs. This added pressure on the Bank of England and boosted bets on an interest rate hike.

AI-written summary of 7 sources; every verified point is backed by a verbatim quote. How Iyan works

• The Office for National Statistics said consumer price inflation reached 3.5% in September, compared with 3.1% in August.

  «The rate of Consumer Prices Index inflation in the UK rose to 3.5 per cent in September from 3.1 per cent in August»

  Daily Mail on MSN
• The FTSE 100 index remained roughly flat as bets on an interest rate hike outweighed gains in major oil companies.

  «Britain's FTSE 100 was little changed on Wednesday as hotter-than-expected inflation reinforced bets on the Bank of England (BoE) increasing interest rates»

  The Sacramento Bee
• The chief economist of the Confederation of British Industry said a rate hike had become a strong possibility at the Bank's next meeting.

  «an interest rate hike was “firmly on the table” at the Bank’s next meeting»

  London Evening Standard
• The inflation report, which exceeded expectations, linked the rise to the impact of higher energy prices stemming from the war in Iran in the coming months.

  «the UK economy looks set to suffer the damaging effects of energy price increases caused by the Iran war over the coming months»

  City A.M. on MSN
• A report carried by RT, citing Bloomberg, said the sharp rise in petrol and diesel costs pushed inflation to an 11-month high.

  «سجل التضخم في المملكة المتحدة أعلى مستوى له في 11 شهرا بعد الارتفاع الحاد في تكاليف البنزين والديزل»

  RT عربي

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