Oil prices help to push CPI inflation up to 3.5%: comment - Energy & Climate Intelligence Unit | ECIU

Inflation in the UK reaches 3.5% for September

The UK's inflation rate rose to 3.5% in September, primarily due to higher motor fuel costs. The British Pound did not fluctuate after the Consumer Price Index data was released. Oil prices played a role in the inflation increase, which has boosted expectations of a rate hike. The Office for National Statistics reported the inflation rise, while financial markets watched the impact on the Bank of England's rate outlook.

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