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UK Inflation Highest Since 2012

18 Octobre 2017

12-month rate rose to 3.0% in September, up from 2.9% in August. To be lucid, the headline index has moderated only 27 bps since dropping to 16.25% in May, compared to the considerable 130 bps posted between end-2016 and April this year.

The report indicated that food price inflation increased by 20.32 per cent (year-on-year) in Sept, up marginally by 0.07 per cent points from the rate recorded in August (20.25 per cent).

This, it noted was 0.31 per cent points from the average annual rate of change recorded in August (18.57) per cent. Inflation was last higher in March 2012. The rate came in line with expectations.

It stated that the urban index rose by 16.18 per cent (year-on-year) in September 2017, up by 0.05 per cent point from 16.13 per cent recorded in August, while the rural index increased by 15.81 per cent in September, down from 15.91 per cent in August.

According to the statistics agency, the inflation growth was stimulated by rising prices for food, recreational goods, and transport costs.

Tejas food quality satisfactory: Railways
The report by a Central Railways team said the quality of the food served on board the premium train was "satisfactory". Feedback about the quality of food was taken from passengers, nearly all of whom said the food served was satisfactory.

Another report from ONS showed that output price inflation slowed slightly to 3.3 percent, as expected, from 3.4 percent in August.

"This [consumer prices] report likely won't change anyone's mind about the inflation outlook a year from now, and it won't stop the Fed hiking in December", said Ian Shepherdson of Pantheon Economics.

British inflation rose to its highest level in more than five years in September, official data showed on Tuesday, adding to the likelihood that the Bank of England (BoE) will raise interest rates next month.

"On a month-on-month basis, the Headline index increased by 0.78 per cent in September 2017, 0.19 per cent points lower from the rate of 0.97per cent recorded in August".

Again, the direction of headline inflation for the rest of 2017 will be mostly driven by food prices. "We noticed a widespread ease in commodity prices, usually associated with early harvest".