(RTTNews) - UK annual inflation rose to 1.5% in October from 1.1% in September, according to a report released by the Office for National Statistics on Tuesday. Annual inflation accelerated for the first time since February 2009 and stood slightly above the expected rate of 1.4%. On a monthly basis, consumer prices were up 0.2%, faster than the 0.1% expected.

Core inflation that excludes volatile energy, food, alcohol and tobacco prices, stood at 1.8% on a yearly basis, up from 1.7% in September.

The all items retail prices index dropped 0.8% year-on-year in October, compared with a fall of 1.4% in September. Economists were looking an annual 1% decline. The index stood at 216, up from 215.3 in the prior month. Excluding mortgage interest payments, retail prices increased at a faster pace of 1.9% annually compared to 1.3% in September.

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