No move on inflation

There was no movement in retail inflation in October. Price rises as measured by the Retail Prices Index (RPI) rose by 2.3% — the same rise as for September. Under the government’s preferred measure — the Consumer Prices Index (CPI) — inflation rose by 1.3% against a 1.2% rise the previous month.

The rise is still well below the Bank of England’s CPI target of 2%, so interest rates will continue at their low level of 0.5% for some time yet.

www.ons.gov.uk/ons/rel/cpi/consumer-price-indices/october-2014/index.html