Inflation rise to highest level in 11 months in fresh blow to John Healey ahead of Budget
Labour approves Jackdaw gas field after months of speculation
TL;DR
- UK inflation reached 3.5% in September, its highest in 11 months, exceeding expectations.
- Soaring petrol and diesel prices were the main drivers of the inflation increase.
- Higher airfares, computer game prices, and live event costs also contributed.
- Experts warn inflation could rise further, potentially to 4.5% by January, driven by energy bills.
- The rising inflation puts pressure on Chancellor John Healey ahead of the Autumn Budget and on the Bank of England to raise interest rates in November.
- Pensioners will receive a 3.9% state pension increase next April under the triple lock.