Inflation hits another record high ahead of Autumn statement

Soaring energy and food costs were the main drivers behind the jump since September

Inflation has yet again hit a record high. It’s now sitting at 11.1% , the highest for 41 years.

It comes ahead of the Chancellor’s autumn statement tomorrow where tax rises and spending cuts are expected.

With less money making its way to consumers’ pockets, retailers are bracing themselves for another tough festive season.