The net percentage of UK consumers expecting prices to rise at a faster pace over the next year is at a 25-month high, according to the October EU Commission consumer survey.

The net percentage reporting an increase in prices over the last 12 months also jumped and is well above its long-run average.

The forward-looking indicator usually leads swings in inflation so the latest rise is consistent with the forecast here of a pick-up in the headline CPI rate – see chart.