Inflation stays at 3.1%

CPI inflation remained at 3.1% in September but the figure is still well above government targets.

In its monthly bulletin, the Office for National Statistics points out there were a number of significant upward and downward pressures, keeping inflation at the same level as August. The main downward pressure came in the transport sector, where decreases in air and sea fares led to an overall 3.4% fall in prices in the past 12 months. However, most other sectors saw increases in prices, with clothing and footwear up 6.4% and a 3% rise for education. Jeremy Cook, chief economist at World First, says: "This figure will act as a stumbling block for those advocating further quantitat...