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Official figures on Tuesday show annual consumption prices (CPI) inflation amounted to 3 2pc in October, more than a percentage point above the target of 2pc in October. Analysts expected to hold steady in 3 1pc.

Over the months, consumer prices rose 0 3pc, still a little more than 0 2pc increase expected.

This increase was led by higher costs of gasoline, a sharp jump in the price of computer games, and the fact that the reduction of burdens discovered last October were not repeated last month.

Inflation in the United Kingdom was surprisingly tough last year and works well over the comparable rate in the euro area and the United States.Makers warned inflation will be advanced to 5pc 3 of the VAT increase ahead, before delete back below target in the margin of the economy.

In his open letter to George Osborne, Mr. King has reiterated its view that the upward price pressures will prove to be temporary.

"" Inflation is probably higher than the target for the year remains prochaine.Mais monetary policy affects the consumer with a time lag b.c price ' is why PPC requires defining policies prospectively, balancing the risks to the rate of inflation in the medium term ", he wrote."

"Its meeting of November, tried PPC was appropriate maintain the orientation of the policy adopted for the past year, is to maintain 0 5pc discount rates and maintain stocks of purchased goods financed by issuing Central Bank reserves to 200 billion livres.Mais ready to adjust the policy – in both directions - to is to ensure that risks to inflation prospects in the medium term remain evenly balanced on the target 2pc.".

Last week, unveiling the latest forecasts by the Bank in its quarterly inflation report, Mr. King argued that those concerned about inflation persistent sticking above target would have to assess the circumstances facing the UK.

Do to drag interest rates to deal with what the Bank sees as an "overflow short term" of inflation would not be appropriate, taking into account the long-term perspective on that spare capacity will be bring inflation at "and possibly below target," he argued.

"I always said that credibility is not to be a numeric comparison between out turn and target, although in the very long term which is clearly the most important thing," Mr. King said.

But, given that even the Bank Committee (PPC) monetary policy makers are divided on the issue - with Andrew Sentance, arguing that the need for rate rises now instead of steeper increases more later on – the debate will continue.

October represents eight months in the line that the ICC was above the threshold.

Prices at retail (IPD), which includes the cost of housing and form the basis many agreements of wages, relaxed slightly to 4 5pc 4 6pc in September.

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