Inflation rose to a six-month high in October, and above the Bank of England’s 2% target, on the back of rising household energy bills.
The official measure of annual consumer price inflation accelerated from 1.7% in September to 2.3%— the highest since April, according to the Office for National Statistics. The uptick was higher than economists’ forecasts of 2.2% and the Bank of England’s projection of 2.1%
Higher inflation in October was widely expected after Ofgem, the energy regulator, raised the price cap on domestic energy bills last month.
The official measure of annual consumer price inflation accelerated from 1.7% in September to 2.3%— the highest since April, according to the Office for National Statistics. The uptick was higher than economists’ forecasts of 2.2% and the Bank of England’s projection of 2.1%
Higher inflation in October was widely expected after Ofgem, the energy regulator, raised the price cap on domestic energy bills last month.
