UK inflation unexpectedly holds steady at 3 percent

UK inflation unexpectedly holds steady at 3 percent

Official figures show that inflation in Britain held steady at 3 percent in the year to October, just below the level that would have forced the governor of the Bank of England to write to the government explaining why prices are rising by more than a percentage point above target.The reading Tuesday from the Office for National Statistics was unexpected. Most economists had predicted a modest increase to 3.1 percent, which would have prompted an exchange of letters between Bank Governor Mark...