UK INFLATION RISES TO HIGHEST IN ALMOST A YEAR AS IRAN WAR DRIVES FUEL PRICES HIGHER

What happened: UK inflation rose to its highest rate in almost a year, with consumer prices up 3.5% in the year to September from 3.1% in August, driven by fuel prices amid the Iran war. Key numbers: 3.5% CPI in year to September, up from 3.1% in August; above the 3.4% forecast; highest since October last year; Bank of England target 2%; motor fuels up 30% in the year to September from 23% in August; Why it matters: The reading cements market expectations that the Bank of England will raise interest rates next month, with economists saying the pieces are in place for a November rate rise. Coverage: 4 outlets in 24h

UK inflation hits near one-year high as Iran war pushes fuel prices up.

UK inflation hits near one-year high as Iran war pushes fuel prices up. — impact context not separately stored; see What changed.