Prices likely rose by 3.5% last month
The latest inflation data is due to be released this morning, and even though the market does not expect the Bank of England to cut interest rates at its latest meeting which concludes tomorrow, the figures are expected to confirm that prices rose by 3.5% in August, up from 3.2% in July.
The worst possible combination of rising inflation and falling growth will test the Government’s mettle in the run-up to the Autumn Budget, which will be presented to Parliament on the 30th of October.
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