Britain's annual consumer prices index (CPI) rose significantly to 2.3 percent in October, up from 1.7 percent in September, according to the data from the Office for National Statistics released on Wednesday.
This marks the highest month-to-month rise in annual CPI since October 2022, pushing inflation to a six-month high.
Housing and household services were the primary contributors to the increase in both CPI and the consumer prices index including owner-occupiers' housing costs (CPIH), which climbed by 3.2 percent in the 12 months to October, compared to 2.6 percent in September.
The core CPI, which excludes volatile items such as energy, food, alcohol, and tobacco, rose by 3.3 percent in October. The CPI goods annual rate saw growth from negative 1.4 percent to negative 0.3 percent, while the CPI services annual rate edged higher from 4.9 percent to 5.0 percent.
The Bank of England has projected that inflation could rise further to 2.5 percent by the end of the year and peak at 2.7 percent by the close of 2025. It expects inflation to gradually decline below the 2 percent target within its three-year forecast horizon.
UK inflation rate jumps to 2.3 pct in October
UK inflation rate jumps to 2.3 pct in October
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
