UK Inflation Falls Below Target (For Now)...

The UK CPI read for September 2024 as reported by the Office of National Statistics came in at 1.7%, which was below the Bank of England’s 2% target, and lower than analysts had been expecting. The BOE had estimated at 2.1% back in August. On a monthly basis, CPI was little changed in September 2024, down from a rise of 0.5% in September 2023. The largest downward contribution to the monthly change in the CPI annual rates came from transport, with larger negative contributions from air fares and motor fuels; the largest offsetting upward contribution came from food and non-alcoholic […]