UK CPI expected to accelerate, potentially leading to a Bank of England rate hike in November

The UK Consumer Price Index (CPI) is projected to accelerate to 3.4% year-over-year in September, up from 3.1% in August, marking the highest level since December of the previous year. Core inflation is also anticipated to rise as higher energy prices impact the broader economy. These figures could provide the Bank of England with a strong rationale to tighten its monetary policy at its November meeting.