UK inflation eases in Sept. ’24

UK annual inflation fell in September 2024, with the Harmonised Consumer Prices Index (HCPI) standing at 1.7 per cent, down from 2.2 per cent in August.

Monthly data showed little change, with HCPI remaining stable compared to a 0.5 per cent increase in September 2023.

Transport costs were the largest downward contributor to the annual HCPI change, primarily due to declines in air fares and motor fuels. In contrast, food and non-alcoholic beverages provided the most significant upward pressure.

Core CPI, which excludes energy, food, alcohol, and tobacco, was at 3.2 per cent year-on-year, a decrease from 3.6 per cent in August.