UK inflation reaches 11-month peak

Inflation in Britain rose to 3.5% in September, reaching the highest level in 11 months, driven by rising fuel and energy prices, particularly diesel and gasoline, as oil prices surpassed $100 per barrel. The costs of raw materials and manufactured goods increased, fueling expectations that the Bank of England may raise interest rates at its upcoming November meeting, with a quarter-point increase anticipated and inflation rates expected to continue rising in the coming months. These developments raise concerns about a recurrence of the living costs crisis, especially amid soaring energy prices and the risks of geopolitical tensions, which complicate the government's efforts to support economic growth and alleviate pressures on households and businesses.

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