Soaring food prices meant UK inflation has returned to the 40-year high it hit earlier this summer.
The Office for National Statistics (ONS) this morning said Consumer Prices Index inflation reached 10.1% in September, compared with 9.9% in August.
That's above the expectations of economists, who had expected it to rise to 10%. It matches July's 40-year high and remains well above the Government’s target of 2%.
The increase was driven by food prices, which soared by 14.5% compared with the same month last year.
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ONS director of economic statistics Darren Morgan said: “After last month’s small fall, headline inflation returned to its high seen earlier in the summer.
“The rise was driven by further increases across food, which saw its largest annual rise in over 40 years, while hotel prices also increased after falling this time last year.
“These rises were partially offset by continuing falls in the costs of petrol, with airline prices falling by more than usual for this time of year and second-hand car prices also rising less steeply than the large increases seen last year.
“While still at a historically high rate, the costs facing businesses are beginning to rise more slowly, with crude oil prices actually falling in September.”
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