INFLATION SHOWS UP AT WRONG TIME FOR MARK CARNEY
Victory can sometimes taste like defeat. UK consumer prices are rising at their fastest pace in nearly two years. It should be a proud moment for Bank of England Governor Mark Carney, who has been struggling to push up inflation. Unfortunately, sterling’s fall is going to give him too much of what he wanted.Inflation picked up to 1 percent in September from 0.6 percent in August, the national statistics office said on Oct. 18. The most notable thing about the acceleration, which surpassed economists’ consensus forecasts, was that it appeared to have little to do with the slump in the pound since Britain’s referendum on European Union membership in June.