LONDON - Bank of England chief Mark Carney warned Tuesday that UK inflation would rebound in the coming months as the Brexit-fuelled slump in the pound sparks price hikes. His comments came however as official data showed that British annual inflation had experienced an unexpected slowdown in October from a two-year high. The 12-month inflation rate declined to 0.9 percent compared with 1.0 percent in September, the Office for National Statistics (ONS) said in a statement. "The increase in producer price inflation over the past several months can be partly attributed to the changes in the sterling exchange rate," the ONS noted. "The Bank of England now expects inflation to hit 2.7 percent next year, but some analysts are predicting it will reach 4.0 percent as sterling weakness pushes up import costs," he added.

Source: Bangkok Post November 15, 2016 17:15 UTC