UK CPI up to 2.8%

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Tuesday, Oct 17 2017

UK CPI up to 2.8%

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.8% in September 2017, up from 2.7% in August 2017; it was last higher in March 2012. The main contributors to the increase in the rate were rising prices for food and recreational goods, along with transport costs, which fell by less than they did a year ago. These upward effects were partially offset by downward contributions from a range of goods and services, in particular clothing prices, which rose by less than they did a year ago. The Consumer Prices Index (CPI) 12-month rate was 3.0% in September 2017, up from 2.9% in August 2017; it was last higher in March 2012.

The headline rate of inflation for goods leaving the factory gate (output prices) rose 3.3% on the year to September 2017, from 3.4% in August 2017. Prices for materials and fuels (input prices) rose 8.4% on the year to September 2017, which is unchanged from August 2017. Upward contributions from energy were offset by downward contributions from other industries, resulting in little change in the annual rates for both input and output prices. Core output inflation was 2.5% on the year to September 2017, which is unchanged since July 2017.

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