THE UK’s rate of inflation hit 11.1% in October driven by soaring gas and electricity prices.
The data from the Office for National Statistics (ONS) reveals the rate went up in October from 10.1% in September and is now at a record high.
Today’s inflation rate is the highest in 41 years, the ONS said.
Inflation is a measure of how the price of goods and services have changed over the past year.
When it goes up it means prices on everyday items, essentials, fuel and bills are higher – which means budgets are being squeezed.
The soaring rate reflects the current cost of living crisis, with millions of people grappling with rising energy bills, petrol prices and grocery costs.
