Soaring energy bills sent UK inflation to its highest level for 41 years in October as households felt the brunt of the cost of living crisis, according to official figures release on Wednesday. The Office for National Statistics (ONS) revealed that inflation jumped to a higher-than-expected 11.1% in October - the highest rate since October 1981 and up from 10.1% in September - as gas and electricity costs rocketed, despite UK Government support limiting the rise in bills.
The ONS said gas prices have leaped nearly 130% higher over the past year, while electricity has risen by around 66%. Families were also hit by rising costs across a range of food items, which also pushed up the cost of living to eye-watering levels.
Chancellor Jeremy Hunt blamed the impact of the pandemic and Vladimir Putin’s war in Ukraine for the spike in prices as he warned that “tough” decisions on tax and spending would be needed in Thursday’s autumn statement.
