Commenting on this morning’s UK inflation data, Melanie Baker, Senior Economist at Royal London Asset Management said:
“UK inflation remains elevated and although we may not have seen another big jump in the CPI measure of inflation in September, there is more to come. Energy bills are among factors set to help push consumer price inflation further above the Bank of England’s target in the near term.
“Though some consumers will have benefited from higher pay growth, higher inflation is set to reduce real income growth for many and will add to some of the challenges facing the economy into 2022.”
The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.