Due to inflation Bank of England likely to raise interest rates by 0.5% again.

As inflation rises to more than 5 times the 2% target's of Bank of England. Bank is forced to raise the interest rate.

And there could be another 0.5% rate hike next month.

UK inflation climbed to 10.1% in year to date and the cost of living crisis continuously rising.

On comparing with other peer countries, UK has now the highest rate of inflation.

Senior UK economist said that inflation in UK will rise to at least 12.5% in October.

With inflation above of 10% its widely expected to rise further as energy bills increase base interest rates look fairly low at 1.75%

Richard Larter said there is no doubt that the cost of living crisis is going to get worse before it gets better.