Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Consumer price inflation fell modestly to an annual rate of 3.1% in September, from 3.2% in August, with prices in the restaurant and hotel sector preventing inflation from rising last month. Prices paid in the catering sector shaved 0.38 percentage points from the change in CPI, reflecting the one-off effect of the Eat Out to Help Out scheme, which reduced levies on food and drink in August 2020.
However, inflation rose in eight of the 12 major categories, suggestion wider-ranging inflation. Core CPI moderated slightly to an annual rate of 2.9% from 3.0% in August. Inflation fell slightly short of analysts' forecasts of 3.2%, presenting a conundrum for the Bank of England. Governor Andrew Bailey declined to push back on market expectations of a near-term rise in interest rates in a speech over the weekend.
Pipeline pressures continued to accelerate. Output PPI jumped to an annual rate of 6.7% last month, from 6.0% in August, the quickest pace since November of 2011. Input PPI rose to 11.4% from 11.2% in August.
Source: ONS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.