UK inflation rate rises to 2.7% in October

[dutchman]

The UK's inflation rate rose sharply last month following an increase in tuition fees and food prices.



The Office for National Statistics (ONS) said the rate of Consumer Prices Index (CPI) inflation rose to 2.7% in October, up from 2.2% the month before.

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 to 3.2% from 2.6%.

The Treasury said the figures were "disappointing".

Labour's Shadow Treasury minister, Catherine McKinnell, said the increase was "worrying".

The ONS also announced it would be introducing a new way of measuring inflation next March, the CPIH, which will include housing costs, something that is not reflected significantly in the currently favoured measure.

September's CPI inflation rate was the lowest for almost three years, and was significant as it is the month on which rises in many benefits is based.

However, inflation had been expected to pick up from that point, partly because of a recently announced round of energy price rises that are expected to affect inflation figures in the coming months.

The ONS said SSE's price rise of about 9%, which came into effect last month, was not included in the October inflation figures.

[rebbonk]

Try telling the average housewife that it's as low as this.

Supermarket prices are rocketing at a far greater rate.