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Hike in energy prices pushes inflation above BoE target at 2.3% in October
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According to data from the Office for National Statistics today (20 November), the increase was largely driven by a rise in energy prices last month, although it was partly offset by the recreation and culture sector. Core inflation increased as well to 3.3% from 3.2% a month prior, still well above the Bank of England's target of 2%, as services inflations continued to remain sticky rising to 5% from 4.9% in September. BoE's Andrew Bailey warns Budget tax hikes add 'uncertainty' for interest rate cuts Chief secretary to the Treasury Darren Jones, said: «We know that families acros...
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