Inflation in the UK surged to a six-month high of 2.3% in October, surpassing the Bank of England's target. Rising energy bills and the Labour government's budget measures are contributing factors. The unexpected increase puts pressure on interest rate plans, with no further cuts anticipated for 2023. Households and businesses face affordability challenges, as inflation rises alongside increased costs for loans and living expenses. Experts suggest the economy may see prolonged high rates as inflationary pressures persist both domestically and due to external global factors.