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UK inflation increases in September

Christian Fernsby ▼ | October 23, 2020
Consumer prices rose a seasonally adjusted 0.41% in September over the previous month.
UK airport
Rebound   Prices for restaurants and hotels also rose markedly
The rebound in price pressures was largely driven by rising prices for recreation and culture, and clothing and footwear.

Prices for restaurants and hotels also rose markedly due to the end of the government’s Eat Out to Help Out discount scheme.

Inflation rose to 0.5% in September, up from August’s 0.2%, but still well below the Bank of England’s 2.0% target.

Annual average inflation fell to 1.1% in September (August: 1.2%).

Core inflation rose to 1.3% from August’s 0.9%.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2020, up 0.1 percentage points from last month’s forecast, and 1.5% in 2021, unchanged from last month’s forecast.