It’s possible that the big leap in CPI inflation from 10.1% in September to a new 40-year high of 11.1% in October will mark the peak. But core inflation may yet rise further, which is why we think the Bank of England will need to raise interest rates higher to bring inflation back to the 2% target.
Note: We’ll be discussing Chancellor Hunt’s Autumn Statement in a Drop-In on 17th November. Register here for the 20-minute online briefing.
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