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18/10/2005
Petrol prices push up UK inflation
UK inflation has risen to 2.5%, driven by the continuing rise in petrol prices, the Office of National Statistics has reported.
It is the highest rate of consumer price inflation since the index began in January 1997 and the third month in a row that inflation has risen above the government target of 2%.
However, the retail price index, which includes mortgage payments, fell in September, driven by house depreciation costs and the benefits of August’s interest rate cut.
Petrol prices had the biggest effect on CPI. The ONS said that the average price for ultra-low sulphur petrol rose by 4.6p per litre in September, compared with a rise of around 0.1p a year ago.
Another upward effect on CPI came from recreation and culture, mainly due to special offers last year on computer game consoles, which were not repeated this year and an increase in theatre admissions.
However, the increase was offset by falling prices in clothing and footwear, particularly in the women’s and children’s market.
A steep fall in airfares and a decrease in the cost of foreign holidays also affected the inflation increase.
(KMcA/GB)
It is the highest rate of consumer price inflation since the index began in January 1997 and the third month in a row that inflation has risen above the government target of 2%.
However, the retail price index, which includes mortgage payments, fell in September, driven by house depreciation costs and the benefits of August’s interest rate cut.
Petrol prices had the biggest effect on CPI. The ONS said that the average price for ultra-low sulphur petrol rose by 4.6p per litre in September, compared with a rise of around 0.1p a year ago.
Another upward effect on CPI came from recreation and culture, mainly due to special offers last year on computer game consoles, which were not repeated this year and an increase in theatre admissions.
However, the increase was offset by falling prices in clothing and footwear, particularly in the women’s and children’s market.
A steep fall in airfares and a decrease in the cost of foreign holidays also affected the inflation increase.
(KMcA/GB)
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