UK inflation at 1% as price of clothes and fuel rises

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Rising prices for clothes, hotel rooms and petrol have led to the highest rate of inflation in nearly two years, official figures show.

Inflation rose to 1.0% in September, up from 0.6% in August, the Office for National Statistics (ONS) said.

Clothing saw its biggest price rise since 2010 and fuel, which was falling a year ago, was also more expensive.

However, the ONS said there was “no explicit evidence” the weaker pound was the reason for higher prices.

Kamal Ahmed: Not all about sterling – yet

Who wins from inflation?

Benefits hit

September’s inflation figure has traditionally been crucial because it decided what rate benefits would increase by in the following year.

However, with the government having frozen many benefits and tax credits until 2020, many families will no longer see them keep up with rising prices.

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Gabriel Onyekawa (Trainer & Mentor)
Gabriel Onyekawa is a trusted authority and Trainer on the subject of Entrepreneurship and Personal Finance. He is the Founder/President of Gabriel Onyekawa Mentorship Program (GOMP) and APPLESOFT BUSINESS INSTITUTE (ABI), Port Harcourt. As the Chief Executive of Applesoft Publishing House, he writes, speaks, counsels, develops audio-visuals and written contents on Entrepreneurship and Personal Finance. Through his Mentorship outfit, he educates singles/married, entrepreneurs and top-rated companies on subjects related to: choice of life partner, successful marriage management strategies, small business start-up/Personal Finance skills and Internet Marketing Strategies. Gabriel is also a bestseller author of “The Secret Of Business Breakthrough” and many other books. Connect to him via WhatsApp/SMS/Calls at +234 907 330 8104

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