P.M. BRIEFING : British Inflation at 8-Year High
Inflation in Britain reached its highest rate in eight years, with prices rising an average of 10.9% during the 12-month period through September, the government said today.
The retail price index rose 0.3% from August’s rate of 10.6% and was the highest since February, 1982, officials said.
Stock and financial markets reacted calmly to the news, and analysts said the muted response was because most players had expected an inflation increase.
“The figures are in line with expectations. But they are still disappointing for the economy,” said Paul Turnbull, an economist with the Smith New Court brokerage firm.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
