Inflation in UK at 2.3%, above market expectations

ISTANBUL

Annual inflation was at 2.3% in the UK in October, above market expectation of 2.2% for the month, the Office for National Statistics (ONS) revealed on Wednesday.

The annual price hike was at 1.7% in September.

On a monthly basis, consumer prices also rose by 0.6% in October 2024 while largest contributor to the price increases was housing and household services; mainly because of electricity and gas prices.

Core CPI — excluding energy, food, alcohol and tobacco — rose by 3.3% in the 12 months to October 2024 in the country.