Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Uni fees force inflation to 2.7%

1 comment
Uni fees force inflation to 2.7%

The cost of goods and services in the UK has jumped to 2.7%, according to the latest consumer price index (CPI) reading.

Inflation jumped from 2.2% in September, and was pushed up in October because of the price of university tuition fees was a key driver of the increase, the Office for National Statistics said.

The cost of food followed closely behind.

Chris Williamson, of Markit Economics, said the Bank of England is likely to react accordingly and cut its expectations going forward.

He said: 'UK inflation jumped higher in October, and further price hikes in coming months suggest that the rising cost of living will continue to act as a drag on economic growth,causing the Bank of England to revise down its growth projections, which will in turn raise the perceived need for further stimulus.' 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter