Hike in energy prices pushes inflation above BoE target at 2.3% in October

Slim chances of rate cut before year-end

Cristian Angeloni
clock • 2 min read
Hike in energy prices pushes inflation above BoE target at 2.3% in October

The UK Consumer Prices Index (CPI) rose by 2.3% in the 12 months to October 2024, up from 1.7% in September.

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...

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