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MNI BRIEF: UK Headline Inflation Slows To Near 3-1/2 Year Low

UK inflation dips below BOE target level, with services inflation also slowing faster than expected.
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MNI (LONDON) -  UK inflation slowed again in September, with the headline CPI reading dipping back below the Bank of England's 2% target level, the Office for National Statistics said Wednesday.

CPI rose by 1.7% in the year to September, down from 2.2% in August (lowest since April '21), while prices were little changed m/m down from a rise of 0.5% in September 2023. Core CPI rose by 3.2% in the 12 months to September (lowest since Sept '21), down from 3.6% in August - the CPI goods annual rate fell from negative 0.9% to negative 1.4%, while the CPI services annual rate fell from 5.6% to 4.9%.

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MNI (LONDON) -  UK inflation slowed again in September, with the headline CPI reading dipping back below the Bank of England's 2% target level, the Office for National Statistics said Wednesday.

CPI rose by 1.7% in the year to September, down from 2.2% in August (lowest since April '21), while prices were little changed m/m down from a rise of 0.5% in September 2023. Core CPI rose by 3.2% in the 12 months to September (lowest since Sept '21), down from 3.6% in August - the CPI goods annual rate fell from negative 0.9% to negative 1.4%, while the CPI services annual rate fell from 5.6% to 4.9%.

Keep reading...Show less