Britain now an ‘outlier’ on inflation, warn economists

Money markets indicated there was an 87pc chance of a reduction in borrowing costs in December, compared to 79pc before the CPI data was published.However, there was some comfort for mortgage holders as traders raised bets on the Bank of England cutting interest rates next month following the drop in inflation.Tory leader Kemi Badenoch said inflation “has nearly doubled” since Labour came to power. She pointed to the ONS figures showing food inflation rose from 4.5pc in September to 4.9pc in October, which ...