Rising Prices as UK Inflation hits a 5-year high
According the FT adviser inflation in the UK was 3% in September. It was particularly high for food and non-alcoholic drinks. There are a number of factors which are being considered to contribute to this and they include pressures particularly by public sector workers for increased wages. In addition, the cost for businesses importing goods and services from outside the UK has increased. The article flags up conflicting views as to whether the inflation rate will continue to rise or fall back down to the 2% mandate specified by the Bank of England.