UK CPI inflation rate rises to 5.2% in September

The rate of Consumer Prices Index (CPI) inflation in the UK matched its record high in September, rising to 5.2% from 4.5% the month before.

An increase in energy costs was behind a large proportion of the rise.

The 5.2% rate is the highest CPI measure since September 2008, and it has never been higher since the CPI measure was introduced in 1997.

European Stocks Fall on Debt Crisis, China

European stocks fell as concern that France may lose its top credit rating added pressure on the region’s leaders to find a solution to the debt crisis and as China’s economy grew at the slowest pace in two years. Asian shares dropped and U.S. index futures fluctuated.

BHP Billiton Ltd. (BHP) and Rio Tinto Group led mining shares lower as metals dropped. BNP Paribas (BNP) SA and Societe Generale (GLE) SA sank more than 6 percent as Moody’s Investors Service said France’s Aaa rating is under pressure. Dexia SA (DEXB) tumbled 13 percent as the European Commission opened an in-depth probe into Belgium’s takeover of its local consumer-lending unit.