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- UK consumer price inflation is down to -0.1% in September
UK consumer price inflation is down to -0.1% in September
The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index declined to -0.1% in September from 0.0% in August, missing expectations for a flat reading.
The decline was driven by low petrol and clothing prices.
"The largest downward contribution came from petrol, with prices falling by 3.7 pence per litre between August and September this year compared with a fall of 0.8 pence per litre between the same 2 months a year ago. Diesel prices are now at their lowest level since December 2009, standing at 110.2 pence per litre," the ONS said.
On a monthly basis, U.K. consumer prices fell 0.1% in September, missing expectations for a flat reading, after a 0.2% rise in August.
Consumer price inflation excluding food, energy, alcohol and tobacco prices remained unchanged at 1.0% in September, missing forecasts of a rise to 1.1%.
The Retail Prices Index dropped to 0.8% in September from 1.1% in August, missing expectations for a decrease to 1.0%.
The consumer price inflation is below the Bank of England's 2% target.
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