British inflation hits 11-month peak

Inflation in the United Kingdom rose to 3.5% in September, the highest level in 11 months, driven by increased fuel and energy prices, especially with oil prices surpassing $100 per barrel and rising prices for gasoline and diesel. The Bank of England is expected to raise interest rates at its upcoming meeting on November 5, as inflationary pressures continue to mount on households and businesses. Inflation could exceed 4% by early 2027, heightening concerns over the worsening cost of living crisis and the necessity of tightening monetary policy to curb inflation.

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