Increase to 4.2% in October from 3.1% also driven by higher prices in restaurants and hotels
- Analysis: UK interest rate decision still on a knife-edge
- Business live updates: UK inflation soars to 10-year high of 4.2%
UK inflation has jumped to the highest level in a decade, hitting a rate more than double the government’s target amid a severe cost of living squeeze from soaring household energy bills.
The Office for National Statistics said the consumer prices index measure of annual inflation rose to 4.2% in October, up from 3.1% in September – the highest rate since November 2011.
Continue reading…
