November 18, 2014

UK rate of inflation moves from a five-year low to 1.3%

UK inflation rose to an annual rate of 1.3% in October, up from 1.2% the previous month (a record five-year low), according to official figures.

The Bank of England warned earlier this month that the rate could fall to 1% over the next 6 months.

The Office of National Statistics (ONS) said the rise was due to strong prices in the transport sector, as well as in recreation and culture.