British inflation accelerated on tuition fees last month

Note: This section contains information in English only.
Source: Reuters
© Scanpix/Reuters
The Office for National Statistics reported on Tuesday that annual inflation in the United Kingdom gained more than expected in October. The British inflation reached a level of 2.7% compared to a reading of 2.2% in the preceding month. Economists, however, expected a 2.4% increases last month. The bureau commented that tuition fees were the most significant contributor to the annual gain.

"Inflation is likely to overshoot in the fourth quarter and the Inflation Report will contain upward revisions of the near-term profile. It will fall gently over the first quarter of 2013, only to pick up again in the second quarter," an economist at RBC Capital Markets, Jens Larsen, said before the release of the data.
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