STUBBORN UK INFLATION HOLDS STEADY AS PETROL PRICES RISE

British consumer price inflation (CPI) unexpectedly held at 6.7% in September, remaining the highest of any major advanced economy and keeping alive the possibility of another rise in interest rates.

A rise in petrol prices between August and September was the main factor stopping a fall in the annual rate, the Office for National Statistics said on Wednesday. But two other less volatile measures closely watched by the Bank of England (BoE) - core inflation and services prices - were also robust, which is likely to leave some policymakers worried about longer-term price pressures.

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