UK consumer price inflation reached a 41-year high in October driven by household energy and food prices, official data showed on Wednesday, ahead of the much-awaited budget announcement.
Consumer prices grew 11.1 percent on a yearly basis, following September's 10.1 percent increase. The rate was the highest since October 1981 and well exceeded economists' forecast of 10.7 percent. Despite the introduction of the government's Energy Price Guarantee, gas and electricity prices made the largest upward contribution to annual inflation. Food and non-alcoholic beverages also made a large upward contribution, with prices rising 16.2 percent.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.