Retail

UK CPI up 11.1% in 12 months to Oct, CPI for clothing-footwear 8.5%

18 Nov '22

2 min read

Pic: Shutterstock

UK consumer price index (CPI) rose by 11.1 per cent in the 12 months to October this year, up from 10.1 per cent in the previous month. On a monthly basis, CPI rose by 2 per cent in October compared with a rise of 1.1 per cent in the same month last year. The 12-month CPI rate for clothing and footwear was 8.5 per cent in both September and October 2022.

The monthly CPI rate for clothing and footwear was 1.6 per cent in October both this year and last year.

The rise in the annual CPI rate into October this year was driven by contributions from seven of the 12 divisions. The largest upward contributions to the change in the annual inflation rate came from housing and household services (0.93 percentage points), food and non-alcoholic beverages (0.18 percentage points) and recreation and culture (0.07 percentage points).

Overall electricity, gas and other fuels prices rose by 24.7 per cent between September and October this year, with gas prices rising by 36.9 per cent and electricity prices by 16.9 per cent.

“Many customers are keenly anticipating Black Friday deals and other promotions in the run up to Christmas, as they prepare to buy gifts and festive treats. Unfortunately, there are few signs the cost of living crisis will abate any time soon,” said Helen Dickinson, chief executive of the British Retail Consortium.

Fibre2Fashion News Desk (DS)

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