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Quilla NewsFinance & Technology
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UK inflation rises to 3.5% in September, highest in nearly a year

FinanceInternationalLos Angeles Times40 s readAI summary
Image: Los Angeles Times

UK inflation rose to its highest level in nearly a year, driven by fuel prices amid the war with Iran, according to official figures from the Office for National Statistics. Consumer prices rose 3.5% in the 12 months to September, up from 3.1% in August, above the 3.4% expected by economists and above the Bank of England's 2% target. Vehicle fuels jumped 30% year on year. Economists expect a rate hike on November 5.

In 40 seconds

  • Annual UK inflation went from 3.1% in August to 3.5% in September, the highest reading since October last year.
  • The figure beat the 3.4% expected by most economists and remains above the Bank of England's 2% target.
  • Vehicle fuels rose 30% over 12 months, versus 23% annual growth in August, due to the war with Iran and bottlenecks in the Strait of Hormuz.
Read the full story at Los Angeles Times

IASummary generated by artificial intelligence from a story by Los Angeles Times. It may contain errors: the original source prevails.

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