Higher energy bills push UK inflation to 6-month high in October ...Middle East

LONDON (AP) — 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 Office for National Statistics said higher domestic energy bills pushed consumer price inflation up to 2.3% in the year to October from the three-year low of 1.7% recorded the previous month. The increase, which was above forecasts for a more modest increase, took inflation above the bank’s target rate of 2%. Earlier this month, the bank increased its main interest rate by a quarter of

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Higher energy bills push UK inflation to 6-month high in October ...Middle East

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