United Kingdom Inflation September 2020

United Kingdom

United Kingdom: Inflation increases in September

October 21, 2020

Consumer prices rose a seasonally-adjusted 0.41% in September over the previous month, contrasting the 0.42% fall logged in August. The rebound in price pressures was largely driven by rising prices for recreation and culture, and clothing and footwear. Prices for restaurants and hotels also rose markedly due to the end of the government’s Eat Out to Help Out discount scheme.

Inflation rose to 0.5% in September, up from August’s 0.2%, but still well below the Bank of England’s 2.0% target. Annual average inflation fell to 1.1% in September (August: 1.2%). Core inflation rose to 1.3% from August’s 0.9%.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2020, up 0.1 percentage points from last month’s forecast, and 1.5% in 2021, unchanged from last month’s forecast.


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United Kingdom Inflation Chart

United Kingdom Inflation September 20 20

Note: Annual and monthly variation of consumer price index in %.
Source: Office for National Statistics (ONS) and FocusEconomics calculations.

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