UK’s rate of inflation hit a fresh 41-year high in October
The UK’s rate of inflation hit a fresh 41-year high in October, accelerating to 11.1 percent on the back of rising energy and food prices.
The Office for National Statistics said the rate rose from 10.1 percent in September, putting inflation at its highest level since October 1981. Economists in a Reuters poll had expected a rate of 10.7 percent.
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The sharp rise in the cost of living came despite the government’s energy price guarantee, which capped bills for gas and electricity at £2,500 for a household with average usage of both fuels.
