Inflation in the UK has risen from very high levels and has risen to over 11%. In October, consumer prices rose by 11.1 percent on an annual basis, the ONS statistics office reported in London on Wednesday. Inflation was already a high 10.1 percent in the previous month. Analysts were surprised by the strength of the price increase.
The experts had expected an average inflation rate of 10.7 percent for October. The price increase was also stronger than expected in a monthly comparison. The statistics office reported a growth of 2.0 percent.
The statistics office explained the increase in inflation mainly with rising prices for gas and electricity. In addition, rising food prices would have fueled inflation.
The British central bank has been combating the sharp rise in prices for some time by raising interest rates. It has raised its key interest rate several times since late last year, most recently to 3.0 percent. (aeg/sda/awp/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
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