Fuel hits rates

A SURGE in petrol prices pushed the annual rate of inflation higher in September for the fourth straight month, official figures showed.

The Consumer Prices Index (CPI) rose to 2.5 per cent last month from 2.4 per cent in August - remaining at its highest level since current records started in 1997.

This was weaker than many analysts had predicted, due to sectors such as clothing and footwear.

A major factor in the increase was a sharper rise in the cost of transport, as petrol prices went up by 4.6p a litre on the month.

Heinz pay deal

A THREATENED strike by hundreds of workers at a Heinz food factory looked set to be called off after an improved pay offer.

Employees at the plant in Wigan, which produces beans, soup and spaghetti, will meet later today and are expected to accept the revised deal.

The workers had been threatening an all-out strike from tomorrow, which union officials had warned would have had an immediate impact on suppliers.

House prices

CHARTERED surveyors are predicting house prices will rise for the first time in 18 months, figures show today.

The Royal Institution Of Chartered Surveyors said increasing demand from potential buyers and the possibility of further interest rate cuts had led surveyors to predict house prices would increase marginally by the end of the year. However, the rises expected are small.

, it adds to growing evidence that the property market may have turned a corner.