UK inflation up from 1.7% to 2.3% in October - Breaking The News

UK inflation up from 1.7% to 2.3% in October

20 November

1 min read

EPA-EFE/ANDY RAIN

Annual inflation in the United Kingdom stood at 2.3% in October, rising from September's inflation rate of 1.7% and coming in higher than analysts' expectations, the UK Office for National Statistics reported on Wednesday.

Consumer prices increased by 0.6% on a monthly basis, while the Consumer Prices Index, including owner-occupiers' housing costs (CPIH), was up by 3.2% year-on-year and by 0.6% from the previous month.

The biggest contributors to the rise in both the CPI and CPIH annual rates from September to October came from housing and household service, predominantly due to electricity and gas prices, while the prices in recreating and culture offset the increase by having the biggest downward contribution in the reported period.

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