US EditionUK inflation unexpectedly remains at 3.8% for third month in a row
- On Wednesday, the Office for National Statistics said consumer price inflation was unchanged at 3.8% in September, below forecasts.
- Unexpectedly, food price inflation fell from 4.7% to 4.5%, easing headline pressure, while the Bank of England forecast 4% earlier this year and economists expected 4%.
- Core inflation eased to 3.5% last month, while services inflation held steady at 4.7%, below the Bank of England's 5% forecast.
- The data is the last inflation reading before the Bank of England meeting on Nov. 6, and economists say a cut from the 4% benchmark interest rate is unlikely while inflation remains high.
- Officials are considering targeted budget actions, including possible VAT cuts on energy and extending a fuel duty freeze, as forecasters say the UK may have the highest inflation this year.
104 Articles
104 Articles
Sterling slips as UK inflation holds steady, dollar falls versus yen
NEW YORK/LONDON :The pound fell on Wednesday after British inflation in September undershot forecasts, while the U.S. dollar fell against the Japanese yen.The British pound was the weakest major currency on Wednesday after inflation unexpectedly held at 3.8 per cent, undershooting expectations of economists a
UK gilts start to plummet after below-expectation inflation figures
The UK gilt yield has dropped to its lowest level of 2025, after inflation data for September was slightly better than expected. On Wednesday, official figures showed the UK’s inflation rate had stayed at 3.8% for September, the third month in a row that it had remained unchanged. The Bank of England has expected the interest rate to rise to 4%. READ NEXT: Labour’s private school tax hike is set to raise more money than expected It seems the sur…
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