13/11/2012

Inflation Rose In October

The UK's inflation rate rose to 2.7% in October, up from 2.2% the previous month, according to the Office for National Statistics (ONS).

The rise is being attributed to an increase in tuition fees and food prices.

The ONS said education costs rose by 19.1% last month after the government lifted the cap on university fees.

Food prices, especially vegetables, also rose after record wet weather earlier this year affected crop yields.

Confectionery prices also increased. The ONS said this was because a number of confectionery products had been reduced in size.

It said it treated this as a price increase in the inflation measures, as consumers were getting less for their money.

The Retail Prices Index (RPI) measure of inflation, which includes housing costs, rose from 2.6% to 3.2%.

The ONS also announced it would be introducing a new way of measuring inflation next March, the CPIH, which will include housing costs.

(H)


Related UK National News Stories
Click here for the latest headlines.

14 June 2005
Inflation remains steady at 1.9%
Consumer price inflation in the UK remained at 1.9% in May, the latest figures from the Office of National Statistics (ONS) have shown. The ONS said that a fall in petrol prices helped to offset price rises in food and air fares.
14 September 2004
Weaker clothing prices help drive down inflation
Clothing and footwear prices have helped to drive down inflation 0.1% to 1.3% for last month, according to Office of National Statistics (ONS) figures released today.
14 December 2011
UK Unemployment Up By 128k Since October
The UK's unemployment rate has risen by 128,000 in the three months to October, reaching 2.64 million, according to the Office for National Statistics (ONS). Reaching a 16-year high, the jobless rate was 8.3%, up from 7.9% in the last quarter of the year. Meanwhile, youth unemployment rose to 1.
18 May 2010
UK Inflation Soars To 17-Month High
UK inflation reached a 17 month high in April, according to official figures. The Consumer Prices Index (CPI) rose by 3.7%, up from 3.4% in March. The all items retail prices index (RPI) also rose by 5.3%. The RPI annual inflation rate is now at its highest level since July 1991 (when it stood at 5.5%).
21 April 2009
Inflation Drops Below Zero
The rate of inflation which includes mortgage costs has dropped below zero for the first time since 1960. The inflation measured by the Retail Prices Index (RPI) dropped to -0.4% in March, a further drop from zero in February.