Inflation in the United Kingdom remained unchanged in annual terms

Inflation in the United Kingdom remained unchanged in annual terms

Inflation in the United Kingdom remained unchanged in annual terms

The Consumer Price Index (CPI) in the United Kingdom rose 6.7 percent year-on-year in September, exceeding market expectations.

According to data announced by the British Office for National Statistics (ONS), inflation did not vary annually due to the increase in fuel prices. The expectation was that inflation would decline to 6.6 percent annually.

While there was a decrease in prices for food and non-alcoholic beverages, the increase in prices for furniture and household goods was limited compared to last year.

Core inflation, excluding energy and food prices, was 6.1 percent annually. Core inflation was 6.2 percent annually in August.

Service sector inflation in the country was 6.9 percent. Service sector inflation was 6.8 percent annually in August.

EXPECTATION OF A DECREASE IN INFLATION

British Finance Minister Jeremy Hunt claimed that inflation did not decline in a straight line in other major economies, saying: “If we stick to our plan, many experts expect inflation to fall further this year. Today’s data shows how important this is. “This way we can reduce the pressure on families and businesses.” he said.

ONS chief economist Grant Fitzner, in his assessment of the data, said inflation remained stable in September after last month’s decline and noted that food and non-alcoholic drink prices continued to fall.

Fitzner said this decline was offset by rising fuel and hotel accommodation costs: “While core inflation also declined this month, we saw a small increase in services inflation.” he said.

The Bank of England aims to reduce inflation to 2 percent. (AA)

inflation UK Chancellor of the Exchequer Central Bank

Source: Sozcu

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