UK Inflation Pushed to 41-Year High by Soaring Energy Prices

In October, the Consumer Price Index rose by 11.1%, marking a 41-year high, largely driven by energy prices. Despite government support, inflation remains a challenge, with the Chancellor's fiscal statement expected to address this. Prime Minister Rishi Sunak emphasizes fighting inflation as a top priority. The Bank of England is likely to increase interest rates in response to the unexpected inflation data.

What was the percentage increase in the Consumer Price Index in October compared to the previous year?

• 12.3%

• 10.2%

• 9.5%

• 11.1%

What is the main factor driving the recent rise in the Consumer Price Index?

• Increased housing costs

• Increased food prices

• Higher gas and electricity prices

• Rising transportation costs

What is the UK government's top priority according to Prime Minister Rishi Sunak?

• Increasing exports

• Fighting inflation

• Reducing unemployment

• Improving healthcare

What is the expected interest rate by August according to money markets?

• 4.0%

• 3.5%

• 4.65%

• 5.0%

How did the Bank of England initially respond to market expectations regarding interest rates?

• They agreed with the expectations

• They pushed back against the expectations

• They increased rates immediately

• They ignored the expectations