Mumbai, Oct. 23 -- UK consumer prices rose less than expected and food inflation eased for the first time in six months in September, raising hopes that the Bank of England could reduce interest rates this year.
Consumer prices logged an annual growth of 3.8 percent in September, the same rate of increase as seen in August, the Office for National Statistics said Wednesday. Meanwhile, core inflation eased marginally to 3.5 percent from 3.6 percent in August.
Services inflation held steady at 4.7 percent and overall goods prices rose at a pace of 2.9 percent, which was the fastest since October 2023. However, food inflation eased for the first time since March, to 4.5 percent.
While transport made the largest upward contribution to annual...