The UK economyu2019s inflation rose to a u2018recordu2019 2.7% in November fuelled by digital camera prices which u2018fell by less than a year agou2019, reveal government figures.
The UK economy?s inflation rose to a ?record? 2.7% in November fuelled by digital camera prices which ?fell by less than a year ago?, reveal government figures.
The inflation figure reflects the percentage change in the consumer prices index (CPI) compared to the same month one year previously.
One of the main factors causing an ?upward effect? on the latest inflation figure was digital camera prices declining by less than they were in 2005, according to the data which was released yesterday by the Office for National Statistics.
The 2.7% figure is the highest since the Labour government came into power in 1997.
The largest factor pushing up the CPI index in November was transport costs where prices also fell by less than 12 months ago. The price of air fares had a similar impact, dropping less in 2006 than in 2005.
Among the products increasing in price were compact discs and pre-recorded DVDs. Services such as water, electricity and gas also had an upward effect.