United Kingdom: Inflation steady in September
October 14, 2013
In September, consumer prices increased 0.4% over the previous month. The figure mirrors the 0.4% increase registered in August and overshot market expectations of a 0.3% increase. The stable figure was mainly influenced by a rise in prices for clothing and footwear, which was offset by a drop in prices for transport.
Annual inflation was unchanged over the previous month at 2.7% in September. Meanwhile, annual average inflation was also unchanged at 2.7% in September.
In its latest inflation report from August, the Bank of England projects inflation to average 2.9% this year, before moderating to 2.4% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 2.6% in 2013, which is down 0.1 percentage points from last month's forecast. For next year, the panel forecasts inflation to average 2.4%, which is unchanged from last month's forecast.
Author: Dirina Mançellari, Senior Economist