It has been reported that inflation in Britain has reached its lowest level in 41 years in October.
Economists
Inflation was 11.1% in October, the highest in the last 41 years. The news came after most economists had expected 10.7%.
@getty
Also, it has been reported that gas charges have increased by 130% and electricity charges by 66% in the last one year. While inflation was 14.5% in September, it increased to 16.2% in October.
The cost will also increase
It has been reported that rising inflation will push people back into crisis and increase energy bills, petrol prices and grocery costs.
@Credit: simondawson
Also, rising inflation means rising prices of goods and services. Besides, the prices of daily necessities like food and petrol are still high.
When it comes to personal expenses, households will now have to spend more on food, energy, housing costs and fuel.