The UK rate of inflation returned to 10.1 per cent for the 12 months to September, according to the Office for National Statistics (ONS) – after dropping slightly to 9.9 per cent in August – keeping it at its highest level for 40 years as the cost of living crisis continues to bite.
The situation will likely get worse before it improves, with the Bank of England (BoE) forecasting inflation to pass 13 per cent in the final quarter of this year, well north of the government’s target of 2 per cent.
