Inflation remains at 3.1%

The Consumer Price Index (CPI) has remained at 3.1% for the fourth consecutive month, according to the Office for National Statistics (ONS). However, the Retail Prices Index (RPI) which includes the cost of housing fell back slightly to 4.6%. Many experts believe that with predicted rises in food prices and the 2.5% increase in VAT planned for next January the cost of living will not ease. The price of clothing and footwear rose by 6.4% last month, marking the biggest recorded rise.