UK inflation remains at 3.8%, above the Bank of England’s 2% target, but lower than expected, with markets reacting positively. Transport costs were the main contributor to inflation, especially air fares. The Bank of England is unlikely to cut rates in November, but a rate cut in 2026 is possible if inflation continues to decrease.

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UK inflation remains high at 3.8%, surpassing the Bank of England’s 2% target. Markets react positively to lower-than-expected figures. The Bank of England is not expected to lower rates at the upcoming November meeting.: UK Inflation Unexpectedly Holds at 3.8% in September