LONDON: World stocks forged higher Tuesday on uncertainty over the future path for US interest rate hikes, while London shrugged off news of surging inflation. Asian indices advanced as investors weighed the prospect of a US rate increase, and on the eve of key economic growth data in powerhouse economy China. In Europe, Frankfurt, London and Paris equities also pushed higher, as the faltering dollar lifted the energy and mining sectors, dealers said. “Equities are pointing north again today, buoyed by Fed rate hike uncertainty taking the dollar from its highs,” said Mike van Dulken, head of research at trading firm Accendo Markets. “This, along with… UK inflation data, is helping materials prices — notably Brent crude oil holding above $51 — and thus energy/miners,” he said. British annual inflation surged to a near two-year high of 1.0 percent in September, official data showed Tuesday, as a tumbling pound raised prices of imported goods and attracted tourists. Meanwhile a weaker greenback makes dollar-priced commodities cheaper for buyers using stronger currencies, which boosts demand and prices. In turn, that translates into rising revenues, profits and share prices for the broader resources sector. The gains came amid unease over this week’s key events that also include the last US presidential debate and a European Central Bank monetary policy meeting. Wall Street pulled back on Monday, despite better-than-expected earnings result from Bank of America. A below-par reading Monday on manufacturing in New York offset news that overall factory production grew for the third time in four months. While investors globally expect US interest rates will rise by the end of the year, the figures tempered expectations about the pace of rises after December. Fed Vice Chairman Stanley Fischer said interest rates would likely be suppressed by several factors, including weak economic growth at home and abroad and low corporate investment. The news added to downward pressure on the dollar, which fell against the yen, euro and even the pound in New York. And while it edged back against the yen on Tuesday, it continued to struggle against the euro and pound. Attention turns to the release Wednesday of Chinese third-quarter economic growth figures, with an AFP survey predicting a slowdown from the previous three months. The figures will be closely watched after last week’s disappointing China trade results were tempered by a better-than-expected inflation reading. The growth figures will be followed later in the day by the third US debate in a bitter presidential election campaign, while the ECB holds a policy meeting Thursday. ECB chief Mario Draghi will be under pressure to clarify the bank’s plans after investors were spooked by talk of an end to its stimulus programme.