Inflation Edges Higher In October

The underlying rate of inflation, excluding mortgage interest payments, rose to 2.3% last month, up from 2.1% in the previous month, according to the latest figures from the Office Of National Statistics (ONS).

The headline rate of inflation also increased during October to 2.1%, up from 1.7% in the previous month. According to the ONS, the booming housing market and motoring costs were behind some of the increases in inflation.

The retail prices index for October was 177.9.

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