Prices across the UK rose by three percent over the last year, as inflation stayed at a five-year high, according to official figures.

Fuel prices fell, but were offset by a rise in food prices, according to the latest Consumer Price Index analysis from the Office for National Statistics.

October saw the inflation rate for food and non-alcoholic beverages increase to 4.1%, the highest rate since September 2013, with food price increases disproportionately affecting those on lower incomes.

The rapid devaluation of the pound in the wake of the Brexit vote last year has contributed to the recent rise in inflation, which the government aims to remain at two percent, as it has increased the cost of imported goods and services across the board.

The fall in the value of the pound since last year’s Brexit referendum has contributed to the recent pick-up in inflation, as it has increased the cost of imported goods and services.

The Retail Price Index, a separate mesaure of inflation, rose to 4% in October, up from 3.9% in September.


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