UK CPI unexpectedly eases to 2.4% y/y in September

The UK Consumer Prices Index (CPI) 12-month rate came in at 2.4% in September, firmer from August’s 2.7% and beating the 2.8% print expected, the UK Office for National Statistics (ONS) reported on Wednesday. 

Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.9% y/y versus 2.1% booked in August while missing the consensus forecast of 1.8%.

The monthly figures showed that the UK consumer prices dropped sharply to 0.1% in September, missing 0.5% expectations and 0.7% previous.