Inflation stays at 3.1% after record jump in clothing costs

Inflation remains steady at 3.1% during the month of September which strengthens the controversy about how to decrease the alarming inflation rate. A fall in the cost of petrol and air fares failed to reduce inflation due to high clothing, food and furniture prices. There exists disagreement among the economists about the idea of the Bank of England to invest more money in the economy since the first round of quantitative easing didn’t make any improvement. The decision to adopt the consumer price index is also criticized because it would affect pensioners and members of the private sector. (the guardian)

Sacha Van de Sype