EconomyPolitics

Double blow to Healey as inflation rises to 3.5% and monthly deficit hits £24bn

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 21/10/2026, 17:35:26 UTC.

Briefings

Inflation surged to 3.5% in September, exceeding City forecasts of 3.4%, while the government deficit reached a record high of £24.5bn. This double blow to Chancellor John Healey's position occurred before next week's budget, with the Office for National Statistics confirming the data.

Key points

• Inflation rose to 3.5% in September, surpassing City forecasts of 3.4% due to surging fuel costs.
• The government deficit hit a record high of £24.5bn in September.

Context

This data represents a significant deterioration for Chancellor John Healey, who faces increased pressure before next week's budget. The Office for National Statistics confirmed the figures, marking a sharp rise in both inflation and fiscal deficit.

Limitations

Data is from October 2026, with inflation measured monthly and the deficit reported annually. The evidence does not include historical context or future projections beyond the reported figures.

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