Rising clothing and food prices push inflation higher

Intu Victoria Centre

Increases in the cost of both clothing and food prices pushed the UK inflation rate to higher-than-expected levels last month.

The UK’s inflation rate, tracking goods and services prices, tipped 0.7% for the month of October and 0.5% in September, according to the latest figures from the Office for National Statistics. 

One of the big inflationary drivers according to the ONS was prices for clothing and footwear. Traditionally prices would drop due to summer sales in these categories between June and July, before being ramped up towards the end of the year, said the ONS. 

However, due to the onset of the crisis in March, many fashion items were discounted in the spring, before prices recovered slightly during the summer as the first lockdown eased.

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