The rate of inflation rose to 10.1% in September, according to official figures, as the economy reels from the effects of rising prices and the fallout from the mini-budget
September's inflation figure confirms what consumers already knew and the chancellor feared.
The inflation they're driving matters to Jeremy Hunt because it further complicates the choice he faces over how generously to fund welfare increases.The triple-lock means pensions will rise by either average earnings, CPI inflation based on September's rate, or 2.5% - whichever is highest. However, under-fire PM Liz Truss used Prime Minister's Questions in the Commons to declare that would not be the case.The Financial Times reported on Wednesday morning that the Chancellor could make a move on bank profits, in addition to potentially taking a greater share of energy company earnings, to help balance the books.
"We have acted decisively to protect households and businesses from significant rises in their energy bills this winter, with the government's energy price guarantee holding down peak inflation."Benefits: Families falling into crisis
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