UK inflation has spiked again, this time hitting 11.1 percent in October. This is a 1.0 percent increase on September’s 10.1 percent reading.
The figure is also substantially ahead of consensus, which was 10.7 percent, while the Bank of England’s prediction that inflation will rise to around 11 percent in Q4 2022, has now been surpassed.
Now, all eyes will be on Chancellor Jeremy Hunt as he delivers his Autumn Statement tomorrow.
Rachael Griffin, a t...
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