UK’s decade-high inflation makes December rate rise ‘more likely’; gas prices climb again – as it happened
by Graeme Wearden from on (#5S0GR)
Rolling coverage of the latest economic and financial news
- There is nothing that hasn't gone up': how rising costs hit UK businesses
- Gas prices climb again....UK house prices at fresh record
- Economists say Bank of England more likely to hike in December
- But not certain, after November's surprise no change'
- Breaking: CPI inflation at 10-year high of 4.2% as cost of living squeeze intensifies
- Electricity surges 18.8% year/year; gas up 28%, petrol at nine-year high
- Levelling up? If anything, things are getting worse for the lowest paid in the UK
Coupled with the strong employment data yesterday, the case for the Bank of England to act now and raise interest rates is compelling", argues Neil Wilson, analyst at Markets.com.
But he also says the Bank may well resist lifting borrowing costs from record lows at its 16th December meeting, for three reasons:
Continue reading...