UK inflation rate is highest in EU

Britain has the highest inflation rate in the European Union, according to figures from the 28-nation bloc's official statisticians.

854a59e8-367d-11e3-a656-0a0c02230000
The Union Jack pictured behind the European Union flag in London.

The 2.7% annual CPI inflation rate recorded in the UK in September was well above the overall EU rate of 1.3% and the 1.1% in the eurozone, said Eurostat.

By comparison, inflation was 0% in Ireland, 1% in France and 1.6% in Germany, while prices are falling year on year in Bulgaria, Greece and Latvia, according to the Eurostat figures.

Labour Treasury spokeswoman Catherine McKinnell said: "This is yet more evidence of the cost-of-living crisis facing families across Britain after three years of this Government's failing policies. Prices have now risen faster than wages in 39 out of 40 months under David Cameron and now we learn that we have the highest rate of inflation of any EU country.

"David Cameron is so out of touch he thinks people are better off, but working people are over £1,500 worse off since he came to office. And even on his preferred measure of disposable income, the latest figures show this fell by 0.7% over the last 12 months.

"By refusing to acknowledge the crisis facing ordinary people and instead giving a tax cut to people earning over £150,000, David Cameron has shown he only stands up for a privileged few."