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UK inflation unexpectedly rose to 3.5% due to war-driven fuel costs, complicating the new Chancellor's upcoming budget and raising fears of higher rates.
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UK inflation rises by more than expected to 3.5% as war drives up fuel prices
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Increase in annual price growth in September comes amid fears rate will breach 4% next yearBusiness live – latest updatesUK inflation climbed by more than expected in September to 3.5% after a surge in prices from the conflict in the Middle East that has pushed up the cost of diesel to record levels.In a blow to John Healey before his first budget as chancellor in a week’s time, the Office for National Statistics said annual inflation rose from 3.1% in August. Economists had forecast an increase in the consumer prices index (CPI) to 3.4%. Continue reading...
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