According to the Office for National Statistics, it’s the first time that inflation has reached this level since the Lehman crash in September 2008.
The ONS says that CPI inflation has never been above 5.2 per cent since the CPI inflation measurement was introduced in 1997.
The 0.7 per cent rise is higher than analysts expected. They had previously forecast a smaller rise to 4.9 per cent.
The rise came from the large increase in gas and electricity charges, gas bills rose by 13 per cent and electricity rose by 7.5 per cent compared to a year earlier.
The price rises of four of the six large utility companies were factored into the figure but the remaining two companies’ price increases will be reflected in the October figures.
Other upward pressure came from transport costs with the prices of fuels and lubricants rising by 17.8 per cent. Air transport costs rose by 17.6 per cent over the 12 months to September.
The main downward pressure came from clothing and footwear which only rose by 4.4 per cent, compared to a rise of 6.4 per cent a year ago.
Retail price index inflation, which includes housing costs, rose from five per cent to 5.6 per cent, the highest since June 1991.
Inflation figures for October will be published on 15 November.