Inflation rose to a six-month high in October, and above the Bank of England’s 2 per cent target, on the back of rising household energy bills.
The official measure of annual consumer price inflation accelerated from 1.7 per cent in September to 2.3 per cent — the highest since April, according to the Office for National Statistics. The uptick was higher than economists’ forecasts of 2.2 per cent and the Bank of England’s projection of 2.1 per cent.
Higher inflation in October was widely expected after Ofgem, the energy regulator, raised the price cap on domestic energy bills last month.
The ONS said that inflation was driven up most by housing costs — reflecting the rise in gas and electricity — with smaller climbs in