UK inflation reaches highest level in a decade at 4.2%

Overshot market expectation of 3.9%

UK annual CPI inflation reached 4.2% in October, its highest level since November 2011, and up from 3.1% in September.

While CPI overshot market expectations of 3.9%, inflation outstripped the consensus across core CPI (which excludes energy, food, alcohol and tobacco) and CPIH (including housing costs), according to Daniel...