UK CPI inflation rate rises to 5.2% in September
The rate of Consumer Prices Index (CPI) inflation in the UK matched its record high in September, rising to 5.2% from 4.5% the month before.
An increase in energy costs was behind a large proportion of the rise.
The 5.2% rate is the highest CPI measure since September 2008, and it has never been higher since the CPI measure was introduced in 1997.
The Retail Prices Index (RPI) - which includes mortgage interest payments - rose to 5.6% from 5.2%.
The latest RPI measure is the highest annual rate since June 1991.
The Office for National Statistics, which released the data, said in a statement: "By far the largest upward pressure to the change in CPI... came from increases in gas and electricity charges.
"There were also large upward pressures from air transport and communication services."
September's CPI measure is way ahead of the Bank of England's target rate of 2%. However, Bank governor Mervyn King still expects inflation to begin falling next year, once factors such as January's VAT rise drop out of the equation.
Latest News
- Electricians Tax Safe Plan (ETSP)
- Industrial Action - 30th November 2011
- Capital Allowances changes from 1 April 2012
- UK CPI inflation rate rises to 5.2% in September
- HMRC 'VAT Initiative' Period Deadline
- Construction Industry Scheme - New Penalties
- Tougher Penalties and Interest on Late Tax Returns
- At least 1m face new tax penalties
- Do you need debt advice?
- VAT errors and making adjustments and claims