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October sees sharp rise in UK inflation

The UK's inflation rate rose sharply last month following an increase in tuition fees and food prices.

The Office for National Statistics (ONS) said the rate of Consumer Prices Index inflation rose to 2.7% in October, up from 2.2% the month before.

The ONS also said that education costs had risen by 19.1% last month following the government lifting the cap on university fees.

Food prices also rose after record wet weather earlier this year affected crop yields and vegetable pricing.

Confectionery also had an influence, rather bizarrely due to the size reduction of a number of confectionery products. The ONS said it treated this as a price increase in the inflation measures, as consumers were getting less for their money.

The Retail Prices Index (RPI) measure of inflation - which includes housing costs - rose to 3.2% from 2.6%.

The ONS also announced it would be introducing a new way of measuring inflation next March, the CPIH, which will include housing costs which can make up 10% of people's average spending and something that is not reflected significantly in the currently favoured measure - CPI.

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