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UK CPI holds steady at 6.7% YoY increase in September 2023

19 Oct '23

2 min read

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UK's consumer prices index (CPI) remained at a 6.7 per cent year-on-year increase for September 2023.
The country's core CPI saw a slight decline to 6.1 per cent.
Monthly CPI increased by 0.5 per cent, with clothing and footwear seeing a 2.9 per cent monthly increase.
The country's CPIH also stood at a 6.3 per cent year-on-year rise in Septermber.

UK's consumer prices index (CPI) has remained steady at a 6.7 per cent year-on-year (YoY) increase for the 12 months leading to September 2023, according to data from the Office for National Statistics (ONS). This rate is consistent with that of August 2023 and down from a recent peak of 11.1 per cent in October 2022. Excluding August, the September rate is the lowest since February 2022.

The CPI for clothing and footwear increased by 6.9 per cent YoY in September 2023. On a monthly basis, the overall CPI rose by 0.5 per cent, mirroring the rate observed in September 2022. Specifically for clothing and footwear, the monthly CPI saw a more substantial rise of 2.9 per cent.

In terms of core CPI, which excludes volatile components like energy, food, alcohol, and tobacco, there was a slight decline. It rose by 6.1 per cent in the 12 months to September 2023, compared to 6.2 per cent in August. Meanwhile, the CPI goods annual rate also marginally decreased from 6.3 per cent to 6.2 per cent.

The consumer prices index including owner occupiers' housing costs (CPIH) maintained a YoY rise of 6.3 per cent, identical to the rate in August 2023. On a monthly comparison, the CPIH increased by 0.5 per cent in September 2023, slightly higher than the 0.4 per cent growth recorded in September 2022.

Fibre2Fashion News Desk (DP)

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