According to Jinshi Data, HSBC economist Chris Hale said that UK inflation in October hit the recent slowdown trend. The core inflation rate in October rose by 0.4% month-on-month, higher than the average level from 2010 to 2019.
Hale said it would be important to see whether service sector inflation would continue to fall in the coming months. He expects the Bank of England to keep interest rates unchanged in December and cut them by 25 basis points in February and May next year.