UBS: U.K. Inflation May Peak at 3.3% in November

UBS investment bank economists said U.K. inflation is expected to accelerate after slowing in June and may peak at 3.3% in November. According to Jin10, the economists said utility bills are expected to rise in July, which could lift year-on-year headline inflation from 2.6% in June to as high as 2.9%. They said food and goods inflation is expected to intensify before year-end as higher input costs, especially energy and fertilizer, gradually pass through to consumers. They added that worsening Middle East conflict has increased the risk of higher inflation.