Inflation rises to 1.5%

Inflation measured on the Consumer Prices Index (CPI) rose from 1.1% in September to 1.5% in October, while the Retail Prices Index (RPI) increased from -1.4% to -0.8%. The CPI measure is the Bank of Engand's main inflation indicator, and its rise could prompt higher interest rates in the future. Fuel costs were a major driver of increased inflation as oil prices continued to rise from the lows experienced late last year. Second hand car prices rose at the fastest rate on record and also contributed to the rise in inflation. City analysts had widely expected a rise in inflation la...