Inflation Rises To Four Year High

The underlying rate of inflation rose to 2.8% last month, its highest level for more than four years, according to the latest figures from the Office Of National Statistics (ONS).

It is understood that rising house prices helped push the figure above the Bank of England’s target rate of 2.5%.

The headline rate of inflation, which includes mortgage interest payments, also rose during October, to 2.6%, up from 2.1% in the previous month.

The retail prices index for November was 177.0.

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