Inflation Up In October

Both the all items CPI and the all items RPI were up in October. The annual rate for the CPI was 1.5% from 1.1% and for the RPI -0.8% from -0.1.4% last month. The annual rate for the RPIX was also up from 1.9% from 1.3% last month.

Looking at goods and services separately, the CPI for goods was 108.4 up from 108.3 giving an annual rate of 0.8% from 0.0% last month. The RPI all goods index was unchanged at 168.1. The all services index under the CPI was 115.7 from 115.4 at a rate of 2.3% down from 2.5% last month and for the RPI it was 285.1 from 283.8 and the rate is unchanged at 2.1%. The Tax and Price Index (TPI) for October was 192.9 from 192.2, or a rate of -1.6% up from -2.3% in September.

Transport contributed a large upward effect on the CPI due to falling prices in fuels and lubricants. Other noteworthy effects came from recreation and culture with price rises from the recording media in particular DVDs, games, toys and hobbies, food and non-alcoholic beverages and communications due to increases in landline telephone charges. A small upward effect came from furniture and household goods. Downward effects came mainly from miscellaneous goods and services in particular banking services, and education due to the effect of the increase in university fees. Housing and household services made a small contribution. These variations were reflected in the RPI with motoring expenditure the largest upward effect due to petrol and oil prices, housing in particular housing depeciation, food principally non-seasonal food, fares and other travel, household goods and services (furniture, telephones) , personal goods and services and leisure goods also made an impression.