Sterling drops as September inflation falls to lowest rate this year

Down from 2.7%

Laura Dew
clock • 2 min read

UK inflation fell to 2.4% in September, down from 2.7% in August, the lowest level this year and therefore reducing pressure on the Bank of England to raise interest rates.

According to the Office for National Statistics, the Consumer Price Index decreased as a result of falling prices for food and non-alcoholic beverages as well as transport and recreation and culture.  Food and non-alcoholic beverage prices fell by 0.1% between August and September 2018 compared with a rise of 0.8% between the same two months a year ago. Upward contributions came from increases in the price of electricity and gas, which rose this year but were unchanged in the same two months in 2017. State pension set to rise 2.6% as inflation falls below expectations Analysts h...

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