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UK inflation: Higher energy bills push rate to 2.3% in October

November 20, 2024
in Business
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UK inflation: Higher energy bills push rate to 2.3% in October
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UK inflation jumped last month in part due to rising energy prices, official figures show.

The inflation rate, which measures price changes over time, hit 2.3% in the year to October, an increase from 1.7% in September.

Annual gas and electricity bills for a typical household went up by about £149 last month, but prices are rising much more slowly than in recent years.

However, the rate, which is closely monitored to determine interest rates, is now back above the Bank of England’s 2% target.

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