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UK Inflation growth accelerated during September

21 Oct 2020 03:34 PM

UK consumer prices rose by 0.5% year-on-year in September, up from 0.2% in August, according to new data from the Office for National Statistics.

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate rises by 0.7%, from 0.5%. The largest contribution came from entertainment and culture (0.3%), while transportation costs increased for the first time since March.

Over the past two years, this category has shown greater variation than any other group, ranging from an upward contribution of 0.75% in August 2018 to a falling contribution of 0.20% in May 2020. Much of the movement comes from changes in fuel prices, particularly during the COVID-19 pandemic, although the price contributions of airline tickets and used cars have also varied significantly during this period.

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