UK inflation sees biggest jump since November 2014
British inflation recorded its sharpest jump in more than two years in September, even without any direct evidence of the weaker pound pushing up prices, official figures shows. Annual consumer price inflation rose to 1.0 per cent from 0.6 per cent in August, the highest level since November 2014, and the biggest jump from one month to the next since June 2014, the Office for National Statistics said. Economists polled by Reuters had expected a reading of 0.9 per cent, and yesterday’s figure was at the top end of the range of forecasts. “The worrying factor is that today’s figure represents only a tiny part of sterling’s steep drop, and no effect from the second big tumble earlier this month,” Thomas Laskey, fixed income investment manager at Aberdeen Asset Management, said.