Headline: UNCAPTIONED: Inflation Jumps to 2.3% as Energy Costs Surge
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Inflation Jumps to 2.3% as Energy Costs Surge. Inflation rose more than expected in October, climbing to 2.3%, up from 1.7% the previous month, according to the Office for National Statistics. The jump was driven by higher household energy bills, as the energy price cap added £12 per month to typical annual costs. Despite this rise, falls in live entertainment ticket prices and cheaper raw materials helped to temper inflation. Core inflation, which excludes volatile items like food and energy also increased to 3.3%, surpassing forecasts. The data has reduced market expectations for an interest rate cut from the Bank of England next month with an 84% chance now leaning toward no change. Services inflation also rose to 5%, reflecting broader upward pressures.
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Keywords: Current Affairs & Politics,inflation,jujps,pound,United Kingdom,prices,houshold,energy bills,cap,falls,live entertainment,ticket prices,cheaper,raw materials,food,energy,forcasts,data,cuts,Bank of England,no change,services,broader,expectations
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