Inflation Pushes Public Debt Interest to New November Record

The bill reached £7.7 billion in November, the ONS said, with public borrowing at £14.3 billion during the month, bringing total debt to £2.67 trillion.

A general view of the Bank of England, in London, on Nov. 11, 2022. Dan Kitwood/Getty Images

The UK has spent £7.7 billion on servicing central government debt in November, the highest for the month on record, according to official data published on Thursday.

The Office for National Statistics (ONS) showed that £3 billion of the bill was for additional interest on index-linked gilts that was largely driven by the 0.5 percent increase in Retail Prices Index (RPI) inflation between August and September.