Toys contribute to CPI rise

Toys have been cited as one of the items responsible for pushing the Consumer Price Index up.
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According to a report on the BBC, the Office of National Statistics says the CPI, which is used by the Bank of England to set interest rates, rose from three per cent to 3.2 per cent in January.

Toys, games and hobbies, fuel and food imports are all among the items that are rising in price.

"It's certainly surprising to see CPI inflation increasing when a sharp fall was widely expected," said Henry Mehta, senior economic advisor to the Ernst and Young Item Club.

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