The UK’s rising inflation rate has been dampened by cheaper clothing prices, the Office for National Statistics has said.
The ONS (Office for National Statistics), found that inflation fell in October, rising 0.9%, compared to the 1% rise in September.
In spite of higher fuel prices and the problems associated with the weakening pound, lower fashion prices and this year’s smaller increase in university fees resulted in the cost of living falling.
Inflation is expected to rise again in the coming months, as higher manufacturing prices, as result of Brexit, are passed onto retailers and consumers.
Inflation is expected to rise again in the coming months, as higher manufacturing prices, as result of Brexit, are passed onto retailers and consumers.
Higher manufacturing costs have already hit headlines, most notably in last month’s standoff between Unilever and Tesco.
The ONS said that those higher costs were already evident in its figures.
Factory gate prices were up 2.1% in October, up from 1.3% in September.
ONS head of inflation Mike Prestwood said: “After initially pushing up the prices of raw materials, the recent fall in the value of the pound is now starting to boost the price of goods leaving factories as well.
“However, aside from fuel, there is no clear evidence that these pressures have so far fed through to the prices in shops.”
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