Carney rules out building interest rate 'war chest'

The UK rate of inflation rose to a five-year high of 3% in September, up from 2.9% the previous month, according to the Office for National Statistics (ONS). The ONS reported this morning the annual rate of UK inflation as measured by the Consumer Price Index had reached its highest level since April 2012 on the back of rising prices for food and recreational goods, along with transport costs, which fell by less than they did a year ago. Windfall for pensioners as inflation hits five year high This will add further pressure on the Bank of England to raise interest rates in November...