By Jack Barnett Inflation has peaked in the UK, but will take a long time to fall, a top investment bank has bet. New data out from the Office for National Statistics on Wednesday will show prices rose 10.9 per cent over the last year, according to Deutsche Bank. While above September’s 10.1 per cent reading and a 40-year high, “inflation will likely have peaked in October,” Sanjay Raja, an economist at the firm, said. If his bet materialises, it will provide a welcome respite from what has been a rampant inflation surge over the last year or so. Inflation has stayed above the Bank of England’…