Against expectations, the underlying rate of inflation in the UK fell during October, according to the latest figures from the Office of National Statistics. Underlying inflation dropped from September’s figure of 2.2% (see Underlying Inflation Rate Up Again After August’s Record Low) to 2.0%, very comfortably below the Government’s target of 2.5%.
Headline inflation for the month was 3.1%, compared to 3.3% in September.
The Retail Prices Index for October was 171.6.
Subscribers can access RPI trends by selecting “Encyclomedia” from the drop-down box at the top of this page.
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