UK inflation slightly fell in October despite forecasts of a rise on September’s 1% increase.
According to the latest figures from the Office for National Statistics (ONS) in its Consumer Prices Index for October 2016, overall inflation declined to 0.9% amid economists forecasts of 1.1% rise.
Furniture prices fell to 0.1% in October, compared to September’s 0.9% rise, and was also less than in October 2015 with prices at 0.4%.
Stated within the ONS report, it said that furniture and furnishings prices overall fell this year by less than a year ago, with the main ‘upward contributions coming from leather settees and wardrobes’.
In overall terms, the furniture, household equipment and maintenance category saw prices increase by 0.5% between September and October 2016, compared with a fall of 1% a year ago.