BREAKING: The Office for National Statistics (ONS) has said the rate of Consumer Price Index inflation rose to 10.1% in September from 9.9% in August.
The Government has promised more support for those who will be hit hardest by rising costs, while Labour has lamented that ‘it is clear that the damage has been done’.ONS director of economic statistics Darren Morgan said: ‘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.
‘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.’Shadow chancellor Rachel Reeves said the new figures would bring ‘more anxiety’ to families already struggling amid the cost of living crisis. New Chancellor Jeremy Hunt also responded to the figures this morning, promising help for the financially vulnerable.
‘This Government will prioritise help for the most vulnerable while delivering wider economic stability and driving long-term growth that will help everyone.
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