British inflation reaches 41-year high of 11.1% in October

The annual rate of consumer price inflation in the United Kingdom increased to 11.1% in October, up from 10.1% in September, according to the Office for National Statistics on Wednesday.

Reuters polled economists, who predicted an increase in inflation to 10.7%.

According to the ONS, food and non-alcoholic beverage prices climbed at the quickest rate since 1977.