Business

Britain’s annual rate of inflation dipped slightly to 3.1% in September, pulled down by a fall in restaurant prices. As in other countries, inflation is expected to remain high because of the dual crunch in energy markets and supply chains. Speaking before the release of the data, Andrew Bailey, the governor of the Bank of England, said that action might be needed to tame inflationary pressures. Some saw this as a sign that the central bank will raise interest rates before Christmas, though Mr Bailey suggested he is more concerned about taming prices over the medium term.