The cost of living issue in Britain is becoming worse, and as a result, inflation has accelerated to the highest pace in 41 years, according to government figures released.
The Office for National Statistics released a statement stating that the Consumer Prices Index touched 11.1 percent in October, which was the highest level since 1981.
In contrast, the rate in September was 10.1%, the highest in 40 years and on par with the rate in July.
The October number exceeded the Bank of England’s anticipated peak and outperformed market forecasts of 10.7%.
According to the ONS, gas prices have increased by 130% and electricity costs by 66% in the last year.