<p>The latest UK economic data has revealed that <strong>inflation slowed modestly</strong>, offering some relief to consumers and policymakers. However, a sharp <strong>rise in global oil prices</strong> has created new challenges for the <strong>Bank of England (BoE)</strong> as it navigates its monetary policy path.</p>

<p>According to the figures released, inflation in September showed a slight downward trend compared with previous months, driven by softer food prices and moderated housing costs. Economists initially viewed the data as a positive signal that the Bank&rsquo;s cycle of rate hikes had begun to cool price pressures.</p>

<p>Yet, the optimism was short-lived as global energy markets saw a surge in oil prices, driven by supply concerns, OPEC+ production decisions, and geopolitical tensions. Brent crude prices climbed above key thresholds, immediately raising fears of imported inflation in the UK economy.</p>

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