Food prices up and fuel costs down as inflation remains at five-year high

Food prices up and fuel costs down as inflation remains at five-year high
 

Figures from the Office for National Statistics (ONS) showed the Consumer Price Index (CPI) measure of inflation was 3 per cent in October, unchanged from a five-year high in September.
Economists had pencilled in a higher rate of 3.1 per cent, which would have forced Bank of England Governor Mark Carney to write a letter to Chancellor Philip Hammond explaining why inflation is so high.
The Government has set an inflation target of 2 per cent, with protocol dictating that the Bank must contact Mr Hammond if inflation exceeds 3 per cent or falls short of 1 per cent.
The Bank expects CPI to... read more

 
Tuesday, 11:16 in Business, Views: 46
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