A record surge in both food and clothing costs drove up the rate of inflation in November, official figures revealed today. The Consumer Prices Index (CPI) rate of inflation was 3.3% last month, up from 3.2% in October, the Office for National Statistics (ONS) said. The increase was driven by a 1.6% rise in food prices and 2% in clothing costs – the highest increases for both sectors in an October to November period since records began. The figures will disappoint the Bank of England – tasked with bringing the rate of inflation down to a 2% target – although policymakers did predict a spike in the cost of living towards the end of the year.
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