10-Year Inflation High Driven by Rising Energy Prices

Inflation surge driven by rising energy prices
(Image credit: Getty Images)

The rate of inflation increased at the fastest rate for almost 10 years in the 12 months to October, with energy price rises the biggest driving factor.

The Office for National Statistics (ONS) says that inflation (the cost of living) has surged by 4.2%, far higher than the 3.1% rise in September, and more than double the Bank’s target of 2%. 

Jack Woodfield
News Editor

Jack has worked in journalism for 11 years and was the News Editor for Homebuilding & Renovating from 2019 until the beginning of 2023. He strives to break the most relevant and beneficial stories for self builders, extenders and renovators, including the latest news on the construction materials shortage and hydrogen heating. In 2021 he appeared on BBC's The World at One to discuss the government's planning reforms. 

He enjoys testing new tools and gadgets, and having bought his first home in 2013, he has renovated every room and recently finished a garden renovation.