According to a report from Jinshi Data, HSBC economist Chris Hale stated that the UK's inflation in October has impacted the recent trend of slowdown. The core inflation rate in October increased by 0.4% month-on-month, higher than the average level from 2010 to 2019.
Hale pointed out that in the coming months, it is necessary to observe whether inflation in the service industry will continue to decline. He expects the Bank of England to keep interest rates unchanged in December and to cut rates by 25 basis points in February and May next year.
