Higher energy bills push UK inflation to 6-month high in October
LONDON — Inflation in the U.K. rose sharply to a six-month high in October and back above the rate targeted by rate-setters at the Bank of England, official figures showed Wednesday, an increase that is set to cement market expectations that there will be no further cuts in borrowing rates this year.
The increase, which was above forecasts for a more modest increase, took inflation above the bank’s target rate of 2%. However, Bank Gov. Andrew Bailey cautioned that rates wouldn’t be falling too fast over the coming months, partly because last month’s budget measures from the new Labour government would likely see prices rise by more than they would otherwise have done. Rate-setters will meet once more this year, on Dec. 19, by which time they will be armed with more monthly inflation reading.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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