Sharp 2.3% climb in October, above expectations
Customers buy flowers on stalls at Columbia Road Flower Market in East London.
Henry Nicholls | Afp | Getty Images
LONDON — U.K. inflation picked up sharply to a higher-than-expected 2.3% in October, data from the British Office for National Statistics showed Wednesday.
The hike marks a sharp increase from the 1.7% rise recorded in September and exceeds the 2.2% forecast of economists polled by Reuters.
Core inflation, which excludes energy, food, alcohol and tobacco, came in at 3.3% for the month, up slightly from 3.2% in September.
Price rises in the U.K.’s dominant services sector ticked up moderately to 5.0% last month from 4.9% in September, hitting its lowest rate in more than two years.
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