UK inflation surges above Bank of England's 2% target, curbing December rate cut expectations

U.K. inflation rose sharply to 2.3% in October, exceeding expectations and potentially preventing a December interest rate cut from the Bank of England. The increase from 1.7% in September surpasses economists’ forecasts and brings inflation above the 2% target, with core inflation at 3.3%. Rising energy prices and global trade tensions are expected to keep inflation above target until at least 2025.

Full Article