INFLATION RISES 1% IN SEPTEMBER

The inflation rate for September rose by 1% which is higher than expectations. The Bank of England had previously indicated that it will see through any short term rises in inflation as it steers a course to combat a serious fall in economic growth. However, with the recent dramatic fall in the strength of the pound yet to feed its way into the inflation figures, today’s numbers make for interesting reading and will no doubt focus the minds of the Bank and the Chancellor ahead of the Autumn Statement and the November Inflation Report.

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