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Pastimes : The Hot Button Questions:- Money, Banks, & the Economy -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (79)	10/15/2002 5:17:38 AM
From: maceng2	Read Replies (1) \| Respond to of 1417

Inflation edges up ananova.com Increases in the cost of petrol (gas) and clothing helped push up inflation last month, according to official figures. The Office for National Statistics says underlying inflation was 2.1% in September, up on the 1.9% recorded in August. One of the biggest drivers behind the rise was clothing and footwear, particularly women's outerwear. The ONS says there have been greater price increases in this sector following the introduction of the new season's stock and continuing price recoveries from summer sales. Hikes in the cost of motoring also played a part, as oil and petrol prices rose compared to falls in September 2001. The cost of food, leisure services and alcoholic drinks also rose last month. The last time underlying inflation was higher was in April 2002, when it came in at 2.3%, and September's rise was marginally higher than most economists had forecast. But despite the increase, inflation still remains below the Bank of England's 2.5% target set by the Chancellor. Headline inflation, which includes mortgage interest payments, rose 0.3% to 1.7% after changes in housing costs. Rising house prices meant mortgage interest payments rose, compared to a fall last September, when the reduction in interest rates in August 2001 was passed on to borrowers.