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Food and transport costs help push inflation to five-year high Magazine

Inflation surged for the five-year packed with September as rising food and transport costs upped the financial pressure on households, depending on figures released today through the Office for National Statistics (ONS)

The report shows the purchaser Price Index (CPI) technique of inflation has risen to 3% , up from 2.9% in August plus in line with expectations.

ONS head of inflation Mike Prestwood said: “Food prices as well as a variety of transport costs helped pushup inflation in September.

“These effects were partly offset by clothing prices that rose less strongly than now in 2009.”

Focusing on CPI, the ONS said food and non-alcoholic drinks rose by 0.8% month-on-month in September after falling by 0.1% throughout the same period during the past year.

Transport costs also put upward pressure across the headline rate in September after recording less month-on-month fall of a single.3% as opposed to a drop of 2.3% in 2016.

Likewise, fuel price?increases of two.5p about the month to 118.2p and 120.1p respectively have triggered the standard picture.

The Consumer Price Index, including owner-occupiers’ housing costs (CPIH), was 2.8% in September, up from 2.7% in August.

It is presently caused by the MPC to know whether or not the consequences rise will likely be instructed to?keep inflation in order, but??city experts are suggesting economic growth shouldn’t be sufficiently strong to warrant an interest rate rise.

 

 

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