Skip to content
Inflation & Prices

UK Inflation Hits 41-Year High on Soaring Energy Prices

  • Figures add to pressure on Rishi Sunak and BOE to act
  • Poorer households are feeling higher rate of inflation
Bloomberg business news
WATCH: UK inflation climbed even higher than expected to a 41-year high in October. Lizzy Burden reports.Source: Bloomberg
Updated on

Energy bills drove UK inflation to a stronger-than-forecast 41-year high in October, adding to pressure on the government and Bank of England to act.

The Consumer Prices Index rose to 11.1% from a year ago, the Office for National Statistics said Wednesday. That was higher than the Bank of England’s forecast for inflation to peak at 10.9% and more than five times the central bank’s 2% target.