S&P: Israel-Hamas Conflict Risks Fueling Inflation and Higher Oil Prices

S&P warns escalating Israel-Hamas conflict could cause renewed global inflation shock and higher oil prices.

UK inflation unchanged in September as drop in food prices offset by jump in fuel costs.

Further oil price rise risks jeopardizing progress in bringing down high inflation.

Bank of England faces tough call on interest rates at November meeting.

UK inflation still on track to fall below 5% by December, but events in Middle East could restrain drop.