UK: Clothing Prices Drive Inflation Rate Rise
The UK inflation rate rose unexpectedly in September, reaching its highest level since April, according to figures from the Office of National Statistics (ONS).
The UK's main gauge of inflation, calculated as retail prices minus mortgage interest payments, rose 2.1 per cent from a year ago, but still falls below the Bank of England's ceiling of 2.5 per cent.
The second greatest contribution to the rises - following housing costs - came from clothing and footwear, particularly women's clothing prices. But analysts believe this could be short-lived, with price cuts likely to follow recent warnings of slowing winter clothing sales amid unseasonally warm weather.
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