Tuesday, November 18, 2014

UK Inflation Rises to 1.3% in October

UK inflation rose to an annual rate of 1.3% in October, up from 1.2% in the previous month, official figures show.

The slight increase moves the rate, as measured by the Consumer Prices Index (CPI), above its recent five-year low.

The Office for National Statistics (ONS), said the marginal rise was because transport costs fell by less than they did a year ago.

In addition, prices in the recreation and culture sectors rose, particularly for computer games and toys.

However, the price of food and non-alcoholic beverages fell by 1.4% in October, when compared with last year, marking the sixth consecutive month without a rise – the longest such period since 2000.

Furniture and household equipment prices also fell, by 1.1%, most notably three-piece suites and settees.

In a separate development on Tuesday, retail analysts Kantar Worldpanel said UK grocery sales had fallen for the first time in twenty years.

via BBC

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