Tuesday, November 18, 2008
CPI & RPI latest
Official figures show that UK inflation fell to 4.5% in October, as oil prices and transport costs fell. The Consumer Prices Index (CPI) measure reached 5.2% in September. This was the highest level for 16 years. The Retail Prices Index, (RPI) the alternative measure of inflation, which includes housing costs, fell from 5% to 4.2%, the biggest fall since 2003. The Bank of England has said inflation could fall below its target of 2% next year - and might drop as low as 1%.