United Kingdom: Inflation accelerates in October
November 13, 2012
In October, consumer prices increased 0.5% over the previous month. The figure came in above the 0.4% rise recorded in September and overshot market expectations, which had prices adding only 0.2%. Higher education costs, which rose 19.1% over the preceding month amid a controversial increase in undergraduate tuition fees, were the most important contributor to the monthly print. As a result, annual inflation jumped from 2.2% in September to 2.7% in October, which represents the highest rate since May and beat market expectations that had annual inflation at 2.4%. That said, annual average inflation continued trending downwards, dropping from 3.3% in September to 3.1% in October.