UK inflation data for September

Inflation in the UK unexpectedly jumped in August, surprising
forecasters who had expected the rate of price increases to fall.

The Office for National Statistics (ONS) said on Wednesday that
consumer price inflation (CPI), the most watched measure of UK
inflation, increased to 2.7% in August, up from 2.5% in the
previous month. CPI had been expected by economists polled prior
to the release to drop to 2.4% during the month.

CPIH, the ONS’ preferred method of measuring inflation was
also higher in the month, hitting 2.4%, up from 2.3% in
July.

“Consumers paid more for theatre shows, sea fares and new
season autumn clothing last month. However, mobile phone charges,
and furniture and household goods had a downward effect on
inflation,” Mike Hardie, the ONS’ head of inflation said in a
statement.

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