Annual CPI inflation rate of apparel-footwear products in UK 1% in Oct

On a monthly basis, CPI rose by 0.6 per cent in the month, up from being little changed in October 2023.

The largest upward contribution to the monthly change in CPI annual rates came from housing and household services, mainly because of electricity and gas prices.

Core CPI (excluding energy, food, alcohol and tobacco) rose by 3.3 per cent in the 12 months to October—up from 3.2 per cent in the year to September. The CPI goods annual rate rose from negative 1.4 per cent to negative 0.3 per cent.

The annual CPI inflation rate of apparel and footwear products was 1 per cent in October, while the monthly rate was 1.1 per cent.

Producer input prices fell by 2.3 per cent in the year to October—down from a revised fall of 1.9 per cent in the year to September.

Producer output (factory gate) prices fell by 0.8 per cent in the year to October—down from a revised fall of 0.6 per cent in the year to September.

On a monthly basis, producer input prices rose by 0.1 per cent, while factory gate prices were flat in October.

Crude oil continues to be the largest contributor to falling input prices, an ONS release said.

The fall in the annual inflation rate for output prices between September and October was more than accounted for by lower prices for refined petroleum products.

The annual producer price inflation rate of textiles, apparel and leather products was 5.2 per cent in October this year, while the monthly rate of the sector was flat. The sector’s contribution to the annual inflation rate in the United Kingdom was 0.07 per cent.

Fibre2Fashion News Desk (DS)