Financial Insights

UK inflation leaps to 10-year high, bolstering rate hike bets

Inflation in the UK reached its highest level in 10 years as household energy bills soared, and in December, shortly after the Bank of England shook the market, it said it would raise rates by holding borrowing costs.

According to the National Bureau of Statistics, consumer prices in October rose 4.2% from 3.1% in September.

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