UK inflation has risen to its highest level since April driven by an increase in household energy bills, according to official figures.
The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation rose to 2.3% for October, up from 1.7% in the previous month. Shadow Chief Secretary to the Treasury Darren Jones said there was “more to do” to ease cost-of-living pressure.
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The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation rose to 2.3% for October, up from 1.7% in the previous month. Shadow Chief Secretary to the Treasury Darren Jones said there was “more to do” to ease cost-of-living pressure.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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NewsTranscript
00:00Well, we know that the cost of living continues to be a problem for working families across
00:03the country, but gone are the days when inflation was at 10%, 11% driving family bills through
00:09the roof.
00:10Inflation is stable, it's a round target, and the key driver of inflation statistics
00:15today is that expected increase in the energy price cap set by the regulator, Ofgem.
00:20But the good news is that inflation is stable, it's close to target, and that will be good
00:24for working families across the country.
00:26While the budget fixed the foundations in this country, it turned the page on economic
00:31instability that we saw under the previous government, and I think businesses, investors
00:35and working people across the country will be happy that we have a government that takes
00:39economic stability properly and will not put us back into the chaos that we saw under Liz
00:43Truss and the Conservatives.