UK inflation accelerated more-than-expected to a decade high in October, adding pressure on the central bank to act on interest rate as early as in December.
Consumer price inflation advanced to 4.2 percent from 3.1 percent in September, data from the Office for National Statistics revealed on Wednesday. This was the highest rate since November 2011.
The rate was above the economists' forecast of 3.9 percent and over twice the Bank of England's 2 percent target.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.