World Economy

UK inflation for October up less than forecast 0.1% month-on-month, 0.9% year-on-year

Nicolas Asfouri | AFP | Getty Images

U.K. inflation for October has come in at 0.9 percent year-on-year, undershooting the 1.1 percent forecast by economists. The monthly uptick in inflation of 0.1 percent also fell short of expectations for 0.2 percent.

According to the Office for National Statistics (ONS), clothing prices and university tuition fees were the biggest drags on the October number, while fuel and lubricant prices saw their biggest jump since April 2012, rising 4.7 percent for the month.

The effect of the plummet in sterling since Brexit is starting to increase prices of goods leaving factories, according to the data collection agency, however, its impact has not yet fed through to consumer prices.

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