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Financial News: UK Inflation Remains Stable In September

UK Inflation Remains Stable In September

10/16/2019 - 05:11:00 (RTTNews)

(RTTNews) - UK consumer price inflation remained in September and factory gate price inflation was the weakest in three years, figures from the Office for National Statistics showed Wednesday.

Consumer prices advanced 1.7 percent year-on-year, the same pace of growth as seen in August. The rate was forecast to rise to 1.8 percent.

On a monthly basis, consumer price edged up 0.1 percent, slightly slower than the expected 0.2 percent.

Core inflation that excludes energy, food, alcoholic beverages and tobacco, accelerated to 1.7 percent from 1.5 percent.

Another report from ONS showed that output price inflation eased 1.2 percent in September from 1.7 percent in August. The rate was the lowest since September 2016 and below the forecast of 1.3 percent.

On a monthly basis, output prices fell 0.1 percent compared to flat growth in August. Prices were forecast to gain 0.1 percent.

At the same time, input prices declined 2.8 percent annually versus a 0.9 percent drop in August. Economists had forecast a 1.7 percent drop.

On month, input prices slid 0.8 percent following a 0.3 percent decrease in the previous month.

In a separate communique, the ONS showed that average house prices in the UK increased 1.3 percent in the year to August, up from 0.8 percent in July.

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