UK inflation jumps to 3.5% — cementing rate hike expectations

U.K. inflation rose by a hotter-than-expected 3.5% in the 12 months to September, driven by the surging cost of motor fuels.

Economists polled by Reuters had been forecasting an annual inflation rate of 3.4%.

September's print marked a continuation of the U.K.'s upward trend for inflation, which came in at 3.1% in August and 2.9% in July. The September reading was the highest annual inflation figure in a year.

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