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- UK consumer price inflation remains unchanged at -0.1% year-on-year in October
UK consumer price inflation remains unchanged at -0.1% year-on-year in October
The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index remained unchanged at -0.1% in October, in line with expectations.
The decline was driven by lower food, alcohol and tobacco prices.
"This is now the ninth month running that CPI has been at or very closer to zero. CPI remained steady at -0.1 percent in October, with stronger clothing price growth being offset by food and alcohol and tobacco, as well as a smaller impact from rising tuition fees," ONS statistician Richard Campbell said.
On a monthly basis, U.K. consumer prices rose 0.1% in October, in line with expectations, after a 0.1% fall in September.
Consumer price inflation excluding food, energy, alcohol and tobacco prices climbed to 1.1% year-on-year in October from 1.0% in September. Analysts had expected the inflation to remain unchanged at 1.0%.
The Retail Prices Index dropped to 0.7% year-on-year in October from 0.8% in September, missing expectations for an increase to 0.9%.
The consumer price inflation is below the Bank of England's 2% target.
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