UK CPI at 1.3 percent in October, in line with expectations

FXStreet (London) - According to data released by the Office for National Statistics (ONS), the UK Consumer Prices Index (CPI) grew by 1.3 percent in the year to October 2014, up from 1.2 percent in September. The print came in on consensus expectations though core inflation held at 1.5 percent compared with expectations of a slight rise to 1.6 percent.

The ONS reported smaller falls in transport costs than a year ago – notably for motor fuels and air fares, and price rises for computer games were the main contributors to the rise in the rate of inflation.

The ONS also reported that food and motor fuel prices, which have historically been upward contributors to the 12-month CPI rate, are currently reducing it by 0.3 percentage points.

CPIH (not a National Statistic) grew by 1.3 percent in the year to October 2014, up from 1.2 percent in September.