Inflation rises to 2.3% in October after energy bills rise

UK inflation jumped last month in part due to rising energy prices, official figures show.

The inflation rate, which measures price changes over time, hit 2.3% in the year to October, an increase from 1.7% in September.

Annual gas and electricity bills rose by about £149 last month, but prices are rising much more slowly than in recent years.

However, the rate, which is closely monitored to determine interest rates, is now back above the Bank of England’s 2% target.