Treasury Chief Secretary Darren Jones insisted the latest inflation figures were "good news" despite the rise in Consumer Prices Index (CPI) inflation to 2.3% for October, up from 1.7% in the previous month.He said the figures were "around" the 2% inflation target.It is the sharpest month-on-month increase in the rate of inflation for two years.Inflation was higher than expected for the month, after economists had predicted a reading of 2.2%.

Treasury Chief Secretary Darren Jones insisted the latest inflation figures were "good news" despite the rise in Consumer Prices Index (CPI) inflation to 2.3% for October, up from 1.7% in the previous month.He said the figures were "around" the 2% inflation target.It is the sharpest month-on-month increase in the rate of inflation for two years.Inflation was higher than expected for the month, after economists had predicted a reading of 2.2%.