Exact(4)
The failure of the commodity price shock to filter into wider inflation?
But with just over 400 days until a general election, Labour has wisely steered the discussion towards the cost of childcare, which for years has outstripped wider inflation.
Their fellow policymaker Ian McCafferty, who last year voted against the majority of the committee for rates to rise to 0.75%, repeated his concerns about wage growth having an impact on wider inflation in the economy.
The ONS said prices were 1.8% higher than the same month last year – a slower rate of growth than the wider inflation rate, which also includes the cost of services.
Similar(56)
And that's where low rates of euro-zone-wide inflation become a problem.
Already, in September, when euro-wide inflation was 1.1%, prices were falling by 1% in Greece.
Angeline Benoit at the news service reports that Spain has opened the widest inflation gap with Germany in euro history.
"Adjustment in the south of Europe cannot be taken for granted, especially if euro-wide inflation is low.
True, euro-wide inflation has risen in recent months above the ECB's target of "below but close to 2%".
The decline in economy-wide inflation has brought down interest payments, but borrowers also have to repay their mortgages.
Both the arithmetic of euro-wide inflation and the mechanisms of rebalancing growth in the currency union demand it.
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