UK inflation comes in higher than expected
Markets’ reaction muted so far, as government prepares to announce budget on October 28
In the run-up to the UK’s budget on October 28, global markets have been gearing up for more news about the country’s fiscal trajectory. And the news from the Office for National Statistics is that inflation is running hotter than the markets had expected.
The latest year-on-year consumer price index (CPI) print, published today (October 21), shows that inflation rose by 3.5% in the 12 months to September, compared with 3.1% in August. Yet although markets had been anticipating a 3.4% increase
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