UK inflation remained steady last month as prices rose 6.7% year-on-year meaning pensioners are likely to get a bumper 8.5% increase in their state pension next year under the triple lock policy.
The Office for National Statistics (ONS) said today (18 September) that prices had risen by 0.5% between August and September, matching market expectations. Core inflation, which excludes energy, food, alcohol and tobacco, saw a slight annual decline, rising by 6.1% over the last year compared to 6.2% in August. Consumer Prices Index (CPI) inflation for the year to September, the period usually used for the state pension triple lock, was confirmed at 6.7%. The means pensioners are in line for a bumper pay rise because the triple lock uses the highest of year-on-year earnings growth fo...
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