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UK inflation forecast to rise above 2% due to higher energy costs, potentially halting interest rate cuts.
UK inflation is forecast to rise above the Bank of England's 2% target due to higher energy costs, with October's Consumer Prices Index expected to show a 2.2% increase from 1.7% last month.
This rebound is largely due to a 10% rise in household energy bills.
The increase may prevent further interest rate cuts in December, though policymakers continue to monitor inflation trends and fiscal impacts on the economy.
5 months ago
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