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UK inflation falls to 5%

The UK consumer prices index has fallen to 5 per cent in October, according to the Office for National Statistics.

The consumer prices index is down 0.2 per cent from 5.2 per cent in September. The retail prices index fell to 5.4 per cent, from 5.6 per cent in September.

The ONS says the largest downward pressure came from falls in the cost of food, on the back of widespread discounting by supermarkets and good harvests for certain produce, as well as air fares and petrol. There were upward pressures from increases in the cost of clothing, electricity and gas.

Last month saw RPI hit its highest point since June 1991, when it was 5.8 per cent.

The Bank of England’s target rate for CPI is 2 per cent.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Still seeing food increases. There might be reductions on some products but retailers are making up for it by increasing others.
    In view of the 2% inflation target the MPC are not exactly achieving their objective.

  2. Inflation in the ‘real’ UK economy is more like 10% It’s only by including in the basket i-pods, Nike trainers and other non-essentials. I pity poor pensioners existing on the crappiest State pension in the whole of Europe trying to keep warm and put basic food on the table – and they helped to win the war.

    Shocking – truly shocking treatment of people who deserve more. Still, at least the government looks after the feckless, the lazy, the criminals, the unmarried mothers with 3 kids by 3 different fathers, Muslim immigrants who shout their hatred of the UK on our streets, and fraudulent MPs. Makes you proud to be British !

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