Inflation is at its highest rate for four decades
(Picture: Dominic Lipinski/PA))The rate of inflation hit an equal 41-year high of 11.1 per cent in October, as soaring food prices and energy bills forced up the cost of living, seeing the squeeze on households tighten its grip to the strongest level in generations.
Food costs jumped 16.4 per cent in the year to October - the biggest rise since 1980 - with basics like low-fat milk, pasta and butter prices all climbing.
