UK’s consumer price index rises 1.2% year-on-year in September, missing 1.4% forecast

The UK's CPI fell to a 1.2% year-on-year rate of change in September (consensus: 1.4%), after a reading of 1.5% for August.

The news has sent cable 0.63% lower to 1.5984.

In comparison with August transport prices were 2.4% lower.

If falling food (-1.5% year-on-year) and motor fuel prices (-6% year-on-year) were excluded, the annual rate of inflation would be a third higher, ONS points out.