Related topic: CPI

UK inflation held steady at 3.8% in September, according to the latest figures from the Office for National Statistics (ONS), defying forecasts of a slight uptick to 4%. 

Analysts are now predicting an August rate cut at the earliest.

Headline inflation reaccelerated in October to the highest rate since April 2024. 

The OBR says market expectations for interest rates remain volatile and predicts further increases in mortgage rates.

September marks the first time inflation has been below the Bank of England's 2% target since April 2021.