BREAKING NEWS

BREAKING NEWS

UK inflation holds firm despite rising food prices

Now Reading:

UK inflation holds firm despite rising food prices

UK inflation holds firm despite rising food prices
Text size Aa Aa

UK inflation unexpectedly held steady last month.

The annual rate was unchanged from September’s five-and-half year
high of 3%, official data showed.

Rising food prices were offset by lower fuel costs.

The results defied expert forecasts.

When the Bank of England raised interest rates for the first time in a decade earlier this month, it said it expected inflation to hit 3.2 percent in
October.

The pound fell to a three-week low against the euro on the back of the news.