FESTIVE gift shoppers and theatre-goers helped lift inflation to its highest level since June last month, official figures showed yesterday.
Higher prices for computer games, some toys and theatre tickets, which fell in December 2003, contributed to a 0.1 per cent rise in the Consumer Prices Index (CPI) to 1.6 per cent, data from the Office for National Statistics (ONS) showed.
Steeper-than-usual rises in the cost of furniture and furnishings and price increases by electricity and gas companies also fuelled the rise, the ONS said.
The rise takes inflation closer to the Government's two per cent target and could increase speculation that the Bank of England will keep interest rates on hold rather than reducing them at its meeting in February.
The CPI differs from the old Retail Price Index measure of inflation because of the absence of housing and council tax costs
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article