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UK inflation increases

The UK's key inflation rate hit its highest for more than five years in September, driven up by increases in transport and food prices.
 
The Consumer Prices Index (CPI) climbed to three per cent, a level it last reached in April 2012, and up from 2.9 per cent in August.
 
The pick-up in inflation raises the likelihood of an increase in interest rates - currently 0.25 per cent - next month.
 
The figures are significant because state pension payments from April 2018 will rise in line with September's CPI.


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