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Cost of Living: Inflation rise surprises even the Bank of England

Although the Bank of England was expecting the consumer prices index to fall from 10.1% to 9.9%, inflation actually jumped to 10.4%.

The increase was driven by food and drink prices. The Office for National Statistics blamed that on supermarket shortages last month, which drove up the prices of vegetables and salads.

Rising alcohol prices in pubs and restaurants also drove up inflation.

Read more here: https://news.sky.com/story/bank-of-england-set-to-raise-interest-rates-for-11th-time-in-18-months-12840525

#costoflivinginuk #inflation #foodinflation #interestratehike #bankofengland #skynews

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