- UK CPI inflation rose to 3.5 per cent in September, up from 3.1 per cent in August, reaching its highest rate in almost a year and exceeding forecasts.
- Surging petrol and diesel prices were the primary driver of the increase, as conflicts in the Middle East squeezed global oil supplies.
- Average petrol prices reached 169.5p per litre in September while diesel rose to 192.5p, later surpassing 200p per litre at the start of October.
- The unexpected inflation spike increases pressure on Chancellor John Healey to announce cost-of-living support in next week's autumn Budget.
- Economists warn that the figures put an interest rate hike firmly on the table for the Bank of England's rate-setting meeting in November.
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