The annual inflation rate in the United Kingdom stood at 4.2% in October, the Office for National Statistics reported on Wednesday, its highest level since November 2011. In September, the figure was 3.1%. On a monthly basis, the Consumer Prices Index (CPI) grew 1.1%, APA reports citing Teletrader.
The index including owner occupiers' housing costs (CPIH) rose by 3.8% year on year and increased by 0.9% when compared to the previous month. The rise in the annual inflation rate was primarily attributed to housing and household services, transport and restaurants and hotels.
At the same time, the Producer Price Output Index jumped 8% annually, while the input indicator surged 13% in 12 months to October.
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