UK inflation accelerates sharply to 2.3% in October

Analysts have warned that the government’s margin of error against its fiscal rules has already been whittled down by developments such as higher borrowing costs. “Further tax hikes are not inevitable...

Ruth Gregory, the deputy chief UK economist at the consultancy Capital Economics, said much of this overshoot was because of a sharp jump in airfares inflation, reflecting the biggest rise in ticket...

Analysts at Capital Economics said the data “lends some support to our view that the Bank will skip the December meeting and cut rates only gradually” beyond that.