uk inflation accelerated in october reaching a fresh fourdecade high as higher wholesale energy prices fed through households utility bills the uks office for national statistics said wednesday that consumer prices were 111 higher in october than a year earlier more than the 101 rise registered in september this is the highest rate of inflation since february 1982 and beats the 109 consensus forecast from economists in a poll by the wall street journal the jump in inflation was mainly due to higher energy prices which increased for most households even as the uk government implemented an energy price cap from oct 1 electricity prices rose 657 on year up from the 54 increase registered in september gas prices soared 1289 compared to a year earlier outstripping the 957 the prior month the core price indexwhich excludes volatile categories such as food and energyincreased 65 in october on year unchanged from september the bank of england expects inflation to remain around 11 in the fourth quarter and to moderate slightly toward 10 in 2023s first quarter