U.K. CPI up 1% in September

Economy 10/18/2016, 10:33 AM
U.K. CPI up 1% in September

The Consumer Price Index (CPI) for the United Kingdom grew 1% in the year to September, compared with a 0.6% increase in the year to August, the Office for National Statistics said on Tuesday. This marks the highest reading for the indicator since November 2014 and beats the market consensus of a 0.8% growth in inflation.

Rising prices for clothing, overnight hotel stays and motor fuels were the main contributors to the upward change in price levels last month, in addition to prices for gas, which remained unchanged following a decline a year earlier. This was partly offset by declines in food prices and air fares over the same period.

TeleTrader Newsroom / IB