CPI inflation rate creeps up to 3.2%
The Office for National Statistics has revealed that the consumer prices index rate for October crept up to 3.2% from 3.1% in September.
The ONS cited petrol and diesel, financial services and games, toys and hobbies as the main reasons for the 0.1% rise in the 12 month rate.
It added that the annual UK rate measured by the retail prices index which includes mortgage costs fell to 4.5% in the period from 4.6% reported in the previous month.
Scott Corfe, economist at the centre for economics and business research, commented: "Today's news is further evidence that inflation is likely to remain above the Bank of England's 2.0%
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