Another Blow To Rachel Reeves As Inflation Jumps Up To 2.3%

Chancellor Rachel Reeves

Inflation has risen by more than economists had expected, according to official figures.

The Office for National Statistics has concluded that the Consumer Prices Index (CPI) leapt from 1.7% in September to 2.3% in October.

It means the Bank of England may be less inclined to cut interest rates next month, as its target inflation rate is 2%.

The Bank already cut interest rates twice this year, taking it to 4.75%.

According to Sky News, there...