UK Inflation Pushed to 41-Year High by Soaring Energy Prices

In October, the Consumer Price Index rose by 11.1%, marking a 41-year high, largely driven by energy prices. Despite government support, inflation remains a challenge, with the Chancellor's fiscal statement expected to address this. Prime Minister Rishi Sunak emphasizes fighting inflation as a top priority. The Bank of England is likely to increase interest rates in response to the unexpected inflation data.

What impact do energy prices have on inflation according to the text?

What are the expected interest rates by August as mentioned in the text?