UK inflation surges to 4.2%, beating expectations

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK watchdog rams home good audit practice after company collapsesBritain's accounting watchdog published on Tuesday what it believes to be the world's first regulatory guide to what makes a good audit, to help stem company collapses and continued compliance failings.
Read more »

Netflix Extends Shepperton Deal, U.K. Studio to Double in SizeThe expansion will add almost 1 million square feet of space, making Shepperton one of the biggest film and TV studios in the world.
Read more »

UK Kids Face Loss Of Life-Changing Cannabis MedicineA least a dozen children in the U.K. face the loss of the cannabis-based medicines used to treat their life-threatening medical conditions, leaving their parents scrambling to find a new doctor who will write prescriptions to keep their kids alive.
Read more »

Pound rises as latest U.K. jobs data seals case for Bank of England rate hikeEconomists said a December rate-hike from the Bank of England was virtually assured after data showing the end of furlough didn't lead to a deterioration in...
Read more »

Taylor Swift Leads Race to U.K. Albums Chart CrownJust 10 chart sales separate Taylor Swift's 'Red (Taylor's Version)' and Little Mix’ 'Between Us' at the pinnacle of the midweek U.K. albums chart.
Read more »