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UK inflation rate stays at 1.8% | UK inflation rate stays at 1.8% |
(10 minutes later) | |
The UK inflation rate remained unchanged at 1.8% in September, according to official figures. | The UK inflation rate remained unchanged at 1.8% in September, according to official figures. |
The main upward pressure on the Consumer Prices Index (CPI) came from rising food prices, but these were offset by falling energy bills. | The main upward pressure on the Consumer Prices Index (CPI) came from rising food prices, but these were offset by falling energy bills. |
The rate remains below the government's 2% target. Analysts say an imminent interest rate rise change is unlikely. | The rate remains below the government's 2% target. Analysts say an imminent interest rate rise change is unlikely. |
The RPI inflation measure - which includes mortgage interest payments - fell to 3.9% in September from 4.1%. | The RPI inflation measure - which includes mortgage interest payments - fell to 3.9% in September from 4.1%. |
The single biggest factor increasing prices was food, adding 0.09 percentage points to the yearly CPI rate, even though vegetable prices fell. | |
Dairy products saw particularly sharp increases, increasing 6.3% in September. | |
The latest figures are unlikely to have an impact on the interest rate outlook. | |
Following recent turmoil in the credit markets, previous expectations that the Bank of England would raise interest rates to 6% from 5.75% have been questioned. | |
Analysts are now saying the UK interest rate will remain the same and could even fall. | |
Gas and electricity bills fell even as oil hovered around the $80-a-barrel mark for the month. |
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