By Joshua Kirby U.K. prices unexpectedly grew at the same rate in September as the previous month, complicating the task of the Bank of England as it looks...
U.K. prices unexpectedly grew at the same rate in September as the previous month, complicating the task of the Bank of England as it looks to keep bringing inflation down.
The consumer price index--which measures a wide basket of goods and services prices--rose 6.7% on year, staying at the same rate as in August, figures from the Office for National Statistics showed Wednesday. This was higher than the 6.6% rise expected by economists, according to a poll compiled by The Wall Street Journal.
Core inflation, which strips out the volatile changes in energy and food prices, rose 6.1% on year, in line with economists' expectations. The print adds to the task of the Bank of England as it works to keep bringing inflation closer to a 2% target while avoiding squeezing the economy into a recession. The bank decided last month to leave its benchmark rate at 5.25%, marking the first time in nearly two years it hadn't decided to lift rates higher.
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