U.K. inflation climbed faster than expected to the highest in a decade, heaping pressure on the Bank of England to raise interest rates and tightening a squeeze on living standards for households. Consumer prices rose 4.2% from a year ago in October, driven by energy prices and the impact of broad-based supply shortages across the economy. That was the fastest pace since November 2011 and up sharply from 3.1% in September. Economists and the BOE had expected 3.9%. The BOE has warned that it’s likely to lift borrowing costs in the coming months to keep inflation in check, estimating that prices may leap 5% early next year, more than double its target. The pound […]