UK’s inflation jump dashes hope of interest rate cut in December | Heather Stewart

Rate cut unlikely until 2025 as energy prices blamed for stronger-than-expected inflation of 2.3%

• Inflation rises to 2.3%

Any lingering hope that the Bank of England might deliver a pre-Christmas interest rate cut next month has evaporated, after official data showed inflation jumping to 2.3% in October.

If it continues to rise in the coming months, Labour will be forced to defend itself against Tory claims that government policy is at least partly responsible.