Figures released by the ONS this morning show interest was 3.0% in October 2017, unchanged from last month. The inflation rate for food and non-alcoholic beverages continued to increase to 4.1%, the highest since September 2013.

Commenting, Liberal Democrat leader Vince Cable said:

“Households are being hit with a relentless Brexit squeeze. The weekly shop has become something to be feared for far too many families.

“These figures should serve as a sharp reminder to MPs debating Brexit today that people’s living standards are at stake.

“As the real economic consequences of Brexit become apparent it becomes all the more concerning that the Government is pushing ahead with a deal or no deal scenario. This underlines the importance of a genuine vote rather than the insultingly dishonest offer made to Parliament yesterday.”

NOTES:

This morning’s ONS inflation figures can be found here https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/october2017