18/11/2014

Inflation Rises In October - ONS

New figures from the Office for National Statistics (ONS) have revealed the UK's inflation rate rose to 1.3% in October, up 0.1% on September.

The rate, measured by the Consumer Price Index (CPI), brings inflation up from a five-year low.

The increase is due to strong prices in the transport, recreation and culture sectors, according to the ONS.

The increase in inflation is not expected to have any impact on interest rates, with the Bank of England's target for inflation set at 2%.

(MH/CD)

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