Inflation rate remains negative
The UK"s inflation rate as measured by the Consumer Prices Index remained at -0.1% in October, the Office for National Statistics has said. The ONS added that the Retail Prices Index, a separate measure that includes housing costs, fell to 0.7% in October from 0.8% in September. This is the lowest RPI rate since November 2009. October marked the first time the CPI has fallen on an annual basis for two months in a row since the index was created in 1997. The price of clothing rose last month, but this was offset by a fall in food, alcohol and tobacco. The ONS said fuel prices fell by 14% on an annual basis, while food and drink prices fell by 2.7% in October and energy costs were 4.1% lower.