The inflation rate in the UK has risen to 4.2 per cent.
The rate in October, as measured by the Consumer Prices Index, increased in October from 3.1 per cent in September, the Office for National Statistics has said.
Now at 4.2 per cent, this is the highest rate in nearly a decade.
Experts say it has risen due to increased household energy bills, a rise in the cost of second-hand cars and fuel and higher prices in hotels and restaurants.
Grant Fitzner, chief economist at the ONS, said: “Inflation rose steeply in October to its highest rate in nearly a decade.
“This was driven by increased household energy bills due to the price cap hike, a rise in the cost of second-hand cars and fuel as well as higher prices in restaurants and hotels.
“Costs of goods produced by factories and the price of raw materials have also risen substantially and are now at their highest rates for at least 10 years.”
