Inflation in the UK picked up more than expected last month because of higher electricity and gas prices.
The consumer prices index rose at an annual rate of 2.3% in October, up from 1.7% in September. Economists had expected a rate of 2.2%.
Electricity prices rose by 7.7% in October, having fallen by 7.5% last year. Gas prices increased by 11.7% in October, compared with a 7% drop last year.
The energy price cap went up, and Ofgem, the regulator, estimates that for an average household paying by direct debit for dual fuel, this equates to £1,717, a rise of £149 on an annual bill.
Treasury chief secretary Darren Jones acknowledged there was “more to do” to ease cost-of-living pressure, as inflation increased to 2.3% in October from 1.7% in September.
Jones said: `'We know that families across Britain are still struggling with the cost of living. That is why the budget last month focused on fixing the foundation of our economy so we can deliver change.
"That includes boosting the national minimum wage, freezing fuel duty and protecting working people’s payslips from higher taxes. But we know there is more to do. That is why the government is focused on economic growth and investment so we can make every part of the country better off."
The agenda • 4pm GMT: Bank of England deputy governor Dave Ramsden speaks • 6pm GMT: European Central Bank vice president Luis de Guindos speaks
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