Expectations are for the inflation rate to have risen to 4% in September, the highest among the world's big rich economies and double the BoE's target.
Currently, markets are pricing in a nearly 15% chance that the central bank could ease rates by 25 basis points at its November meeting. But an upside surprise in Wednesday's figures is almost certain to wipe out those bets.
That would also cloud the rate outlook for the central bank into the year-end, as policymakers remain divided between those who want aggressive action to offset the slowing job market, others who worry about persistent inflation pressure and a majority in the middle who favour gradual rate cuts.
The fast pace of price growth in the UK - which continues to strain households and keep borrowing costs elevated - adds to the challenge for finance minister Rachel Reeves, who has pledged to ease cost-of-living pressures and speed economic growth.
Reeves has signalled that she will raise taxes and cut spending in her November 26 budget plan as she tries to stay on course to meet her fiscal targets and avoid upsetting investors who have already pushed up British borrowing costs sharply.
