Quilter says UK inflation rise strengthens case for higher interest rates

• Quilter Cheviot's Richard Carter warned on October 21, 2026, that rising UK inflation strengthens the case for higher interest rates.
• September inflation rose to 3.5% from August's 3.1%, driven largely by transport costs, particularly motor fuels.
• Public sector borrowing reached £24.5 billion in September, exceeding forecasts by £1.9 billion ahead of John Healey's first Budget.
• Borrowing totaled £97.8 billion in the financial year's first six months, £6 billion above the Office for Budget Responsibility's forecast.
• Public debt surpassed £3 trillion for the first time, with September debt interest of £10.9 billion constraining the government's spending ambitions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Quilter plc published the original content used to generate this news brief on October 21, 2026, and is solely responsible for the information contained therein.