Oil prices help to push CPI inflation up to 3.5%: comment - Energy & Climate Intelligence Unit | ECIU

September sees UK inflation at 3.5%

The UK's inflation rate rose to 3.5% in September, primarily due to higher motor fuel costs. The British Pound did not fluctuate after the Consumer Price Index data was released. Oil prices contributed to the inflation increase, which has strengthened expectations of a rate hike. The Office for National Statistics reported the inflation rise, while financial markets watched the impact on the Bank of England's rate outlook.

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