UK inflation fell to 1.7% in the year to September, the lowest rate since April 2021, the Office for National Statistics (ONS) said.
According to new figures, the Consumer Price Index (CPI) rose by 1.7% in the 12 months to September 2024, down from 2.2% in August. This means inflation has fallen below the government-set target of 2% for the first time since 2021
ONS chief economist Grant Fitzner said: “Inflation eased in September to its lowest annual rate in over three years. Lower airfares and petrol prices were the biggest driver for this month’s fall.”
Investors had expected inflation to fall to 1.9%.
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