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Commenting on today's inflation figures chancellor Kenneth Clarke said: ...
Commenting on today's inflation figures chancellor Kenneth Clarke said:

'Retail prices were unchanged between September and October. The reason the annual inflation rate has gone up is because this time last year there was the largest fall in retail prices in any October since the war.

'The effect on the statistics is that the 12 month figure goes up because prices have stayed level this October rather than repeating another big fall.

'As I have repeatedly demonstrated, policy is set to meet our inflation target. That is why we are sustaining our best performance on inflation in 50 years.'
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