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United Kingdom: Inflation stabilizes in September from the prior month
Latest reading: Consumer prices increased 3.8% on a year-on-year basis in September, stable from the previous month’s reading. September’s reading was below market expectations but close to double the Bank of England’s 2.0% target.
Relative to the previous month’s data, price pressures were higher for transportation in September (+3.9% in annual terms vs +2.4% in August). In contrast, there were milder price pressures for recreation and culture (+2.7% vs +3.2% in August) and food and non-alcoholic beverages (+4.5% vs +5.2% in August).
Meanwhile, core consumer prices were up 3.5% in annual terms in September, following a 3.6% increase in the prior month.
Lastly, consumer prices were unchanged in September on a month-on-month basis, following a 0.28% rise in the previous month.
