UK inflation leaps more than expected to 41-year high

UK inflation surged to a 41-year high in October, amid soaring energy bills as well as food and transport prices, which weighed on households and businesses, according to data published by the Office for National Statistics (ONS). 

Consumer prices rose by 11.1% in October, beating estimates of 10.7%. 

The ONS said inflation would have risen to around 13.8% in October if the government had not intervened to limit household electricity and natural gas bills. 

This came amid the government and Bank of England’s efforts to be sensible with the nation’s finances to help contain inflation.