Grant Fitzner, chief economist at the ONS, said that inflation rose steeply in October to its highest rate in nearly a decade.
The average increase in prices is usually based on how much things cost today compared to a year ago and is known as the inflation rate. It also means that if inflation is higher than the interest you're earning on your savings, you are effectively losing money.
No wonder Tory MPs need 2 jobs This you? ToryCorruption
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