Inflation rises to 3.1%, adding to UK cost of living squeeze
by Larry Elliott Economics editor from on (#3AFVW)
Dearer computer games, smaller than expected falls in airfares, plus rising food, transport and clothing costs spur rate to near six-year high
The government has admitted households are feeling the pain from rising inflation after the cost of living rose to a near six-year high of 3.1% in November.
Amid fears that the intensifying pressure on living standards will hit high street spending in the runup to Christmas, the financial secretary to the Treasury, Mel Stride, said 2018 would bring better news.
Inflation is when prices rise. Deflation is the opposite - price decreases over time - but inflation is far more common.
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