A day after strong employment data, higher-than-expected UK inflation numbers pushed the pound higher, adding weight to the case for a rate hike in December.
In October, consumer prices rose 4.2% year-on-year, well above the 3.9% expected by analysts and a significant jump from the 3.1% in September. It also hit marked the highest inflation in a decade, driven mainly by energy prices, although core inflation excluding food and energy also increased to 3.4% from 2.9%, higher than expected. .
“Inflationary …
https://www.marketwatch.com/story/u-k-inflation-surges-to-decade-high-of-4-2-sending-pound-higher-again-and-ftse-100-lower-11637141814?rss=1&siteid=rss | UK inflation rises to decade high of 4.2%, sending pound higher again and FTSE 100 lower
