UK CPI edges up 0.1% on month; 2.4% on the year

Consumer Price Index has increased slightly in September by 0,1% according to data published by the National Statistics Office; the year-on-year index went up by 2.4%.September reading is substantially lower than the 0.4 rise of August, although the experts’ forecasts were about a flat performance for the monthly figures, this decrease has been due to lower costs on fuel, since the average price of petroleum fell by 6.4p between August and September the largest monthly decline on record.The yearly index was up by 2.4%, comparing with 2.5% in August. Core CPI, the gauge which excludes prices of volatile items, such as energy and food, rose 0.3% on the month, versus 0.4% in August, and increased by 1.4 on the year in September, the highest since November 2005.