The Bank of England will be given a fresh headache over interest rates next week as the cost of living spirals.
Official figures published on Wednesday are expected to show inflation jumped from 3.1 per cent in September towards 4 per cent in October.
The City ‘consensus’ is inflation will reach 3.8 per cent but Nomura economist George Buckley warns it could hit 4.1 per cent, more than double the 2 per cent target and pile pressure on the Bank to raise rates to stop prices spiralling out of control.
