UK inflation surges to 4.2%, beating expectations

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UK inflation surges to a new record high of 4.2%, beating expectations

The U.K.'s Consumer Prices Index rose by 4.2% in the 12 months to October 2021, up from 3.1% in September. Economists polled by Reuters had a expected a figure of 3.9%.

The Bank has been monitoring a confluence of crucial data points as inflation remains persistently high while economic growth moderates and labor conditions tighten. The U.K.'s Consumer Prices Index rose by 4.2% in the 12 months to October 2021, up from 3.1% in September. Economists polled by Reuters had a expected a figure of 3.9%., defying many investors' expectations that it would become the first major central bank to hike rates following the coronavirus pandemic. The Bank has been monitoring a confluence of crucial data points as inflation remains persistently high while economic growth moderates and labor conditions tighten.

 

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