Inflation rate hits 11.1%

Higher than expected inflation has seen the consumer price index rise by 1% to 11.1% over the last 12 months

The October figure is up from 10.1% in September 2022, surprising economists who expected the rise to be smaller.

The largest upward contributions to the annual inflation rate in October 2022 came from housing and household services, principally from electricity, gas, and other fuels, food and non-alcoholic drinks, and transport costs.

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