United Kingdom: Inflation inches up in October
November 18, 2014
In October, consumer prices rose 0.1% over the previous month, which was slightly up from the flat reading observed in the previous month. October’s figure was mainly driven by higher prices for transport as well as for recreation and culture, which offset lower prices for furniture and household goods as well as for clothing and footwear.
Annual inflation inched up from 1.2% in September to 1.3% in October, thus breaking a chain of three consecutive drops. October’s figure came in slightly above market expectations, which had the inflation remaining at 1.2%. Annual average inflation inched down from September’s 1.8% to 1.7% in October, and now stands at its lowest level since July 2005.
Author: Dirina Mançellari, Senior Economist