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Financial News: UK Inflation Highest Since 2012

UK Inflation Highest Since 2012

10/17/2017 - 04:56:00 (RTTNews)

(RTTNews) - UK inflation increased in September to the highest since early 2012, data from the Office for National Statistics showed Tuesday. Inflation rose to 3 percent in September from 2.9 percent in August. The rate came in line with expectations. Inflation was last higher in March 2012.

Month-on-month, consumer prices gained 0.3 percent in September, as expected.

Core inflation that excludes energy, food, alcoholic beverages and tobacco, held steady at 2.7 percent.

Data showed that the consumer price index including owner occupiers' housing costs (CPIH) climbed 2.8 percent year-on-year in September versus 2.7 percent in August.

Another report from ONS showed that output price inflation slowed slightly to 3.3 percent, as expected, from 3.4 percent in August.

On a monthly basis, output prices rose only 0.2 percent after climbing 0.4 percent.

At the same time, annual growth in input prices remained at 8.4 percent. Meanwhile, monthly input price inflation eased notably to 0.4 percent from 2.3 percent.

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