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15/12/2009
Petrol Price Pump Up Inflation
Growth in the UK inflation rate last month has been attributed to increased petrol prices.
Official figures show the consumer prices index (CPI) rose faster than predicted to an annual rate of 1.9%, compared with 1.5% in October.
November had the highest recorded figure since May.
Inflation is expected to rise next year as VAT charges return to 17.5%.
The retail prices index (RPI), which includes housing costs, rose to 0.3% from a rate of -0.8% in October.
RPI is now in positive figures for the first time this year.
A report from the Office for National Statistics (ONS) said: "By far the largest upward pressure affecting the change in the CPI annual rate came from transport."
It continued: "Within the transport category the largest upward effect came from fuels and lubricants.
"The large fall in 2008 was due to sharp falls in petrol and diesel prices, reflecting the falling price of crude oil in the latter half of 2008."
Average petrol prices increased by 2.9p to 108.3p a litre in last month.
This is compared to a record fall of 9.3p in November 2008.
(PR/BMcC)
Official figures show the consumer prices index (CPI) rose faster than predicted to an annual rate of 1.9%, compared with 1.5% in October.
November had the highest recorded figure since May.
Inflation is expected to rise next year as VAT charges return to 17.5%.
The retail prices index (RPI), which includes housing costs, rose to 0.3% from a rate of -0.8% in October.
RPI is now in positive figures for the first time this year.
A report from the Office for National Statistics (ONS) said: "By far the largest upward pressure affecting the change in the CPI annual rate came from transport."
It continued: "Within the transport category the largest upward effect came from fuels and lubricants.
"The large fall in 2008 was due to sharp falls in petrol and diesel prices, reflecting the falling price of crude oil in the latter half of 2008."
Average petrol prices increased by 2.9p to 108.3p a litre in last month.
This is compared to a record fall of 9.3p in November 2008.
(PR/BMcC)
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Price Fall Underlines Downward House Price Trend
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Price Fall Underlines Downward House Price Trend
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