UK inflation rate hits highest level for eight months

Quick Summary:

Economists say the faster pace of price rises all but rules out an interest rate cut on Thursday.

Recent figures show the economy shrank in September and October, and the usual response would be to lower interest rates.

A wider measure of inflation showed housing and household services costs, including rent, rose by 3.5% over the past year.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Rates Inflation Fuel Figures Bank Rising Month Prices Interest Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 11:23:28 (3 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 889 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © BBC Business

News ID: 24571591

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