UK inflation fell in October, although there were signs that the pressure on consumer prices is starting to build. Prices grew by 0.9% in the month, lower than the 1.1% predicted by analysts. After initially pushing up the prices of raw materials, the recent fall in the value of the pound is now starting to boost the price of goods leaving factories as well," ONS statistician Mike Prestwood said. The pound has fallen about 16% against the dollar and about 11% against the euro since June which is likely to push inflation higher in the coming months as the UK has a high propensity to import.

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