Britain’s inflation rate rose to a 41-year high in October, fuelling demands for the British government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans on Thursday.
Consumer prices rose 11.1 per cent in the 12 months through October, compared with 10.1 per cent in September, the Office for National Statistics said on Wednesday. The October figure exceeded economists’ expectations of 10.7 per cent.
Higher prices for food and energy drove October’s inflation rate to the highest since October 1981, the ONS said.
The new data comes a day before Treasury chief Jeremy Hunt is scheduled to unveil a new budget amid growing calls for higher wages, increased benefits and more spending on health and education as raging inflation erodes the spending power of people across the UK.
