INFLATION remained at a five-year high of three per cent last month, putting continued strain on the budgets of United Kingdom households.
The spike in consumer price inflation was driven mostly by a doubling of vegetable price index to 7.47 per cent from 3.92 per cent in September, data released by the Central Statistics Office (CSO) showed.
However, on a year-on-year (YoY) basis, the CPI inflation last month was lower than 4.20 per cent recorded in October 2016. It was lower by 22.51 per cent in September.
Separately on Tuesday, data from research group Kantar showed that United Kingdom grocery price inflation for the quarter ending November 5 stood at 3.4 percent, the highest level in four years. The price of food shot up mainly due to unexpected rains, which destroyed crops. The previous high was 3.89 per cent in March this year.
In October, inflation rate for the food basket increased to 1.9 per cent from levels of 1.25 per cent in September. Within food inflation, the price of vegetables, milk and milk products contributed to the increase.
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Pan, tobacco and intoxicants saw high inflation and settled at 6.91 per cent. Clothing and footwear (4.76), housing (6.68), and fuel and light (6.36) were costlier on sequential basis.
Fall in pulses price keeps rise modest; housing, fuel up.
During the 23rd Goods and Services Tax (GST) council meeting, tax rates were lowered for 213 items.
Ratings agency Crisil said: "In the months ahead, inflation could see an upside from further rise in oil prices and higher household spending led by implementation of farm loan waiver and an expected upward revision in salary and allowances of state government employees". Retail inflation, a key input for RBI in setting the key interest rate, has been rising consistently since June amid a slowdown in factory output measured on Index of Industrial Production (IIP).