UK inflation unexpectedly remains at 3.8% in September, the Office for National Statistics reveals. Earlier this month, Deutsche Bank chief UK economist Sanjay Raja suggested September’s reading “will likely mark the peak in inflation this year, and likely for the cycle”. However, the International Monetary Fund said it expects UK inflation to remain above the Bank’s target for over a year. BoE governor Andrew Bailey last week also said that the latest round of labour market data backed his view that underlying inflation pressures were cooling. Mortgage Advice Bureau strategic lender relationship director Rachel Geddes says: “While inflation holding steady at 3.8% reflects the persistent pressures from political uncertainty and elevated costs, the mortgage market continues to remain resilient.