UK: Commodity price inflation hit 2.1% in October, the highest since 2024, as energy and food costs rise Brent crude oil recently hit $117 a barrel, compared to an average of about $70 before the US and Israeli attacks on Iran in February. High fuel prices also contributed to a 3.5% increase in the UK Consumer Price Index last month.

UK: Commodity price inflation hit 2.1% in October, the highest since 2024, as energy and food costs rise Brent crude oil recently hit $117 a barrel, compared to an average of about $70 before the US and Israeli attacks on Iran in February. High fuel prices also contributed to a 3.5% increase in the UK Consumer Price Index last month.