Annual consumer inflation in the UK hit double digits again after a month in September. In September, inflation in the country renewed its 40-year high.
Permanent signals came from inflation in England. Inflation in the country, led by the food and non-alcoholic beverages group, increased more than expected, exacerbating the cost of the living crisis on households.
The annual consumer inflation, which hit double digits 40 years later in July, dropped to single digits in August and rose to double digits again in September.
Inflation in the country was recorded as 10.1 percent in September. Economists surveyed by Bloomberg had expected annual inflation of 10 percent.
In September, monthly inflation was 0.5 percent, above the 0.4 percent expectation.
Annual core inflation in the country was 6.5 percent in September. The expectation for this data was 6.4 percent.
While many factors, especially energy costs, created inflationary pressure recently, the tax cut plan that came to the schedule in the country was withdrawn after it made risks to the inflation outlook.
Britain’s new Finance Minister, Jeremy Hunt, said that the plan was shelved this week.
However, the attention in the country is on the intervention of the Bank of England.
The Bank of England (BOE) will hold its first government bond sale on 1 November, just after 31 October, when the new medium-term fiscal plan will be announced.
