The annual rate of consumer price inflation in Britain rose to the highest level in 41 years, reaching 11.1% last October, compared to 10.1% in September, according to data from the British National Statistics Office.
According to Arabiya.net, economists polled by Reuters expected the country's inflation rate to rise to 10.7%.
Prices of food and soft drinks rose at the fastest rate since 1977, according to the National Bureau of Statistics.
Reacting to the new data, British Finance Minister Jeremy Hunt said today, Wednesday, that difficult but necessary decisions are needed to address the rise in prices.
It is our duty to assist the Bank of England in its mission to return inflation to target, by acting responsibly with the nation's finances, Hunt said in a statement ahead of the announcement of his next budget on Thursday.
He continued: This requires some difficult but necessary decisions on taxes and spending to help achieve balance.
