UK inflation leaps to 10-year high

UK inflation surged to a 10-year high last month as household energy bills soared.

That's according to data released Wednesday.

Consumer prices rose by 4.2% on the year in October - beyond all forecasts, and up from just over 3% in September.

The National Statistics Office said household energy bills were the main driver.

Gas prices were up by close to a third in the year to October.

The soaring inflation means the Bank of England is now widely expected to raise rates at its December policy meeting.

It would be the first of the world's major central banks to do so since the health crisis began.

There were also other signs of inflation pressure in UK data.

Prices charged by factories rose more than expected - up 8% on the year.

Manufacturers' input costs also jumped 13% - the most since 2008.

Finance minister Rishi Sunak said rising inflation was not just a British problem, with U.S. price rises now above 6%.

Sunak says the government will take action to offset the hit to spending power.

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