United Kingdom: Inflation slides in October
November 15, 2016
In October, consumer prices increased 0.1% from the previous month, which came in slightly below the 0.2% rise seen the previous month. October’s increase reflected higher prices for alcohol and tobacco as well as for housing and household services. On the other hand, prices fell for clothing, footwear and transport.
Inflation was 0.9% in October, down from September’s 1.0%, which had marked the highest reading since October 2014. The reading came in below the 1.1% expected by the markets. Finally, annual average inflation inched up from 0.4% in September to 0.5% in October, the highest figure in over a year.
Author: Dirina Mançellari, Senior Economist