Rate of inflation remained steady in September, data shows

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18 Oct 2023

Data published by the Office for National Statistics (ONS) has shown that the rate of inflation remained steady at 6.7% in September 2023.

The ONS revealed that the CPI rose by 6.7% in the 12 months to September, the same rate as was recorded in August. The CPIH, which includes owner occupiers' housing costs, rose by 6.3% during this time.

Core CPI, which excludes energy, food, alcohol and tobacco, rose by 6.1% in the 12 months to September 2023, down from 6.2% in August. According to the ONS, the CPI services annual rate rose from 6.8% to 6.9%, while the CPI goods rate fell slightly from 6.3% to 6.2%.

Responding to the data, David Bharier, Head of Research at the British Chambers of Commerce (BCC), said: 'Today's figure, showing the CPI is stuck at 6.7%, shows that inflation for consumers remains stubborn.

'Businesses need clarity on interest rates, as well as a longer-term plan for growth in the economy, focusing on infrastructure, skills and alleviating trade barriers.'