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Waiting for UK Inflation Data

Waiting for UK Inflation DataWaiting for UK Inflation Data

The Office for National Statistics is expected to announce the UK consumer price index for October on Tuesday, NewsNow reported. The market will be watching the release of the inflation data, which in September just recorded its biggest monthly rise since November 2014. The country’s CPI inflation grew at an annual rate of 1% in September, up from 0.6% in August. Analysts generally attributed the September inflation growth to the sharp fall in the value of the pound after the Brexit vote, which pushed up the imports costs of domestic manufacturers, reflecting through the CPI in the coming months.

 

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