UK inflation hits 3.5% as borrowing tops £3 trillion
Briefing by News4U · First published
September CPI rose more than expected, pushing debt above £3 trillion and raising Bank of England rate-hike odds.
British inflation and borrowing rose more than expected last month, according to data that will add to calls for help for households in finance minister John Healey's first budget next week and the likelihood of a Bank of England interest rate hike, RTHK Finance reported. [1]
Consumer price inflation rose to 3.5 percent after a 3.1 percent increase in August, the Office for National Statistics said on Wednesday. Separate figures showed the government borrowed more than forecast and public debt surpassed £3 trillion (US$4.01 trillion). [1]
Sources
- Rising inflation fuels rate-hike fears in UK
RTHK Finance · · Excerpt