Inflation rises to new high amid household squeeze

By The Newsroom
Published 12th Dec 2017, 10:33 BST
Updated 12th Dec 2017, 10:38 BST
The Bank of England will need to write to Chancellor Philip Hammond. Picture: PA WireThe Bank of England will need to write to Chancellor Philip Hammond. Picture: PA Wire
The Bank of England will need to write to Chancellor Philip Hammond. Picture: PA Wire
Inflation has unexpectedly jumped to a near six-year high, forcing the Bank of England to explain to the Chancellor why the cost of living has surged.

Figures from the Office for National Statistics (ONS) show the Consumer Prices Index (CPI) rose to 3.1% in November, up from 3% in October.

It means inflation has climbed to its highest level since March 2012, with economists expecting CPI to hold steady for the third month in a row at 3%.

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