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Financial News: UK Inflation Steady At 3%

UK Inflation Steady At 3%

11/14/2017 - 04:55:00 (RTTNews)

(RTTNews) - UK consumer prices logged a steady growth in October and output price inflation slowed further, official data showed Tuesday.

Consumer prices climbed 3 percent year-on-year in October, the same pace as seen in September, the Office for National Statistics reported. Prices were forecast to rise 3.2 percent.

Month-on-month, consumer prices edged up 0.1 percent versus the expected growth of 0.2 percent.

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

The consumer price index including owner occupiers' housing costs, CPIH advanced 2.8 percent annually in October, unchanged from the September rate.

Another report from the ONS showed that output price inflation slowed to 2.8 percent in October from 3.3 percent in September. The expected rate was 2.9 percent.

On a monthly basis, output prices gained 0.2 percent, the same rate as posted a month ago.

At the same time, input price inflation eased notably to 4.6 percent in October from 8.1 percent in September. Inflation was forecast to slow to 4.8 percent.

Input prices climbed 1 percent in October from September, when they rose 0.2 percent.

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