UK consumer prices hold at 1.7% in September

  • by Ahmed Mamdouh
  • October 16, 2019, 8:46 AM
  • 102 Views
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U.K. consumer prices remained at its lowest level since 2016 in September, data from the Office for National Statistics showed Wednesday.

The CPI inflation measure held at 1.7 percent rise in the year ended September, coming below forecasts of 1.8 percent. The fall from 2.1 percent recorded in July to 1.7 percent is the largest since late 2014.

The slowdown in inflation was triggered by motor fuels, second-hand cars, and electricity, gas and other fuels, the ONS said.

The annual core CPI reading rose from 1.5 percent to 1.7 percent. That came in line with analysts’ projections.

As of 08:42 GMT, the pound traded lower versus the U.S. dollar at 1.2721, resuming its retreat from five-month high of 1.2798 hit on Tuesday.

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