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The cost of energy in the UK is increasing at a faster rate than in the past.

In the year to October, the rate of inflation increased from 10.1% to 11.1%.

Higher food and transport costs were behind the increase in prices.

The UK is likely to go into recession this year due to soaring inflation.

Ahead of Thursday's Autumn Statement, which is expected to see Chancellor Jeremy Hunt announce public spending cuts and tax rises, the latest inflation figure is the highest it has been in over 30 years.

The Office for National Statistics tracks the prices of a basket of goods to calculate the inflation rate.

Despite the government limiting energy bill rises in October through the Energy Price Guarantee scheme, gas and electricity prices were still the main cause of inflation.

Without the support for bills, inflation would have gone up as high as 13.8%, according to the ONS.

According to Grant Fitzner, chief economist at the ONS, "gas prices have climbed nearly 130%, while electricity has risen by around 34%".

The price of food and drinks went up by 16.4% in the year to October.

If the government continues to freeze energy prices, inflation may have peaked, according to Paul Dales.

The upward pressure on core inflation from global factors is starting to fade.

Recent falls in global agricultural commodity prices suggest that food inflation will soon start to ease.

Some firms have had to raise their prices due to higher energy costs.

Goods such as food, fuel, and energy have become more expensive due to a number of factors.

The economy is being dragged down by households cutting back their spending.

The Bank of England has warned of a two-year recession in the UK after the economy contracted by 2% in the third quarter.

The definition of a recession is when the economy shrinks for two months in a row. It's a sign that the economy is not doing well and that companies are making less money.

  • Economics
  • Inflation
  • Cost of living
  • UK economy