A day after strong jobs data, hotter-than-expected U.K. inflation numbers were driving up the British pound, adding more weight to the case for an interest rate hike in December.
In October, consumer prices rose 4.2% annually, higher than the 3.9% expected by analysts and a sizable leap from 3.1% in September. It also marked the highest inflation level in a decade, driven largely by energy prices, though core inflation that excludes food and energy also jumped to 3.4% from 2.9%, above expectations.
“Inflation…
This post was originally published on Market Watch
