Rising Oil Prices Push UK Prices Higher

The Consumer Price Index (CPI) rose 1.5 percent on an annualized basis in October. The significant increase was attributed to higher oil prices and a weaker pound. However, the Retail Price Index (RPI) – which includes all retail items with the exception of mortgage interest payments and housing cost – was a negative 0.8 percent for the same time, continued to signal that the economy was in recession.

London Times

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