U.K. Inflation Rises In October; Pound Rises

Inflation in the U.K. rose by 1.3% in October, compared with 1.2% in September, according to data released by the Office for National Statistics on Tuesday. Expectations were for inflation to come in at 1.2%. Smaller falls in costs for motor fuels and air fares, and price rises for computer games were the main factors that drove the inflation rate higher, the ONS said. The pound gained after the release, trading at $1.5661, compared with $1.5643 ahead of the data. Sterling traded at $1.5650 late Monday.