British inflation hits two-year high of 1 pct as living cost rises

The British inflation rate as measured by the Consumer Prices Index (CPI) rose to a nearly two-year high of 1.0 percent in September, up from 0.6 percent in August, the Office for National Statistics (ONS) revealed Tuesday.

According to ONS, rising prices for clothing, hotel stays, and petrol have led to the highest rate of inflation since November 2014, when it was also 1.0 percent.

Clothing saw its biggest price rise since 2010 and fuel, which was falling a year ago, was also more expensive.

These upward pressures were partially offset by a fall in air fares and food prices.

However, the ONS said there was "no explicit evidence" the weaker sterling was the reason for higher prices.

Analysts have predicted the living cost in Britain will rise further, particularly when the fall in sterling makes importing food and clothing more expensive.

Since the EU referendum, sterling has dropped nearly 20 percent against the U.S. dollar. Endit