The inflation rate in the United Kingdom rose to 0.5 percent in September, up from 0.2 percent in the previous month, influenced by transport costs and the end of the government's incentive scheme for the restaurant sector, the Office for National Statistics (ONS) said on Wednesday
LONDON (Pakistan Point News / Sputnik - 21st October, 2020) The inflation rate in the United Kingdom rose to 0.5 percent in September, up from 0.2 percent in the previous month, influenced by transport costs and the end of the government's incentive scheme for the restaurant sector, the Office for National Statistics (ONS) said on Wednesday.
"Transport costs, and restaurant and café prices, following the end of the Eat Out to Help Out scheme, made the largest upward contributions (of 0.23 and 0.21 percentage points, respectively) to the change in the CPIH (Consumer price Index) 12-month inflation rate between August and September 2020, the official report said.
According to the ONS, transport costs rose for the first time since March, partly because of an increase in the demand for second-hand cars, while under the incentive scheme for restaurants, consumers were able to receive a 50 percent discount on food and non-alcoholic drinks to eat or drink from Monday to Wednesday in August.
Reacting to the ONS�s report, the Institute for Fiscal Studies wrote on Twitter that the inflation figures confirm that "triple-lock indexation" would increase the basic state pension and new state pension by 2� percent next April, while basic state pensions will have increased by 41 percent over 11 years, compared to 22 percent if indexed in line with earnings.
