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.

November 19, 2024
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