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After UK inflation climbed to 11.1% at a 41-year high

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rate of Annual inflation in the United Kingdom was 11.1% last OctoberCompared with 10.1% registered in September, which represents the biggest rise in prices since 1981, the British Office for National Statistics (ONS, its acronym in English) reported on Wednesday.

The agency has indicated that The highest annual inflation rate recorded in a single month in the historical series current, which began in January 1997, although forecast models prior to that date (which are not recorded) suggest that inflation would have peaked only in October 1981, when it peaked at 11.2%.

In the month of October Food and non-alcoholic beverages prices have increased by 16.2% year-on-year., compared to 14.5% in September, the supply of homes increased their price by 26.6% from 20.2% in the previous month. For its part, traffic rose to 8.9% year-on-year growth from 10.6% in September.

In its analysis, the ONS noted that, Despite the energy price cap being in place By Govt., gas and electricity prices were the main contributors to inflation. According to their estimates, without the cap on energy prices, electricity, gas and other fuel prices would have risen by nearly 75% between September and October 2022, rather than 25% year-on-year rate increases. The annual inflation rate is 13.8%.

For his part, he Underlying CPIwhich excludes the volatility of energy, food, alcohol and tobacco prices Up 6.5% in 12 months As of October, in line with previous month’s data. In monthly terms, prices rose by 2% in the tenth month of the year.

Source: lainformacion.com

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