Ella 
On Wednesday, the Office for National Statistics (ONS) will release key data on the UK’s Consumer Price Index (CPI) for September.
On Friday, Bank of England Governor Andrew Bailey told the annual meeting of the Institute of International Finance in Morocco that he had “seen progress in controlling inflation, but there is still more to do”.
Commenting on stubbornly high wage inflation on Monday, Huw Pill, the Bank of England’s chief economist, said: “The average weekly earnings data is increasingly looking like a figure that is irrelevant to the UK economic environment.”
The UK economy released wage inflation data on Tuesday. The three-month average annual wage rate (%) excluding bonuses in the U.K. was 7.8% in August, in line with market forecasts, but slowing from the previous revised reading of 7.9%.
In light of these factors, the UK inflation report will be closely watched for fresh clues on the Bank of England’s interest rate outlook, which could add to the Pound Sterling’s (GBP) volatility.
